1.4100 -0.01 (-0.70%)
Before hours: 7:49AM EDT
Triple Moving Average Crossover
|Bid||1.4000 x 2200|
|Ask||1.4300 x 800|
|Day's Range||1.3800 - 1.5500|
|52 Week Range||0.6200 - 1.9300|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.50|
Out on the Street, it’s full speed ahead. Despite the chaotic events of 2020, the S&P 500, which is coming off of its best quarter in more than 20 years, is down by only 2% year-to-date. Somewhat remarkably, the market has continued to charge forward as the number of new COVID-19 cases surges. As COVID-19 could be with us in waves for some time, there’s plenty of uncertainty going forward into the second half of the year. Consequently, spotting compelling plays can feel like a fool’s errand, especially given the hefty toll the virus has already taken on companies spanning multiple sectors.Having said that, the Street’s pros argue that the pandemic has actually positioned some names as beneficiaries. Looking specifically at the biotech sector, massive amounts of capital have been pumped into a handful of names racing to develop solutions to combat the virus.Bearing this in mind, we used TipRanks’ database to get more information on three biotech penny stocks, trading for less than $5 per share, that are poised for COVID-related gains. While these tickers are risky in nature, the investing platform revealed that each has earned a Moderate or Strong Buy consensus rating from the analyst community and boasts substantial upside potential. CTI BioPharma Corporation (CTIC)Focused on the development of innovative therapies, CTI BioPharma wants to address the unmet medical needs of patients. Given the potential of its COVID-19 treatment and its $1.18 share price, it’s no wonder this healthcare name is on Wall Street’s radar.CTIC scored major investor attention after it initiated the Phase 3 PRE-VENT study of its pacritinib asset in COVID patients, with the study evaluating whether the therapy can reduce the occurrence of acute respiratory distress syndrome (ARDS). It should be noted that the study will include cancer patients, and initial data is expected by YE:20.Writing for Needham, five-star analyst Chad Messer points out that ARDS, which is caused by an overreaction of the immune system, is the leading cause of mortality in COVID-19 patients. What makes CTIC’s therapy a stand-out, in Messer’s opinion, is that unlike ruxolitinib, it doesn’t target JAK1. This is important as JAK1 inhibition has been associated with immune-suppression towards infections.“Pacritinib also inhibits CSF-1R which is associated with macrophage activation. Additionally, pacritinib is less thrombocyotpenic than other JAK inhibitors. These features differentiate pacritinib and may make it a potential best in class JAK inhibitor for treatment of severe COVID infection,” Messer commented. To this end, Messer continues to give CTIC his stamp of approval. Along with a Buy rating, the top analyst keeps the price target at $3.50. Should the target be met, a twelve-month gain of 195% could be in the cards. (To watch Messer’s track record, click here)Other analysts also take a bullish approach. CTIC’s Strong Buy consensus rating breaks down into 3 Buys and zero Holds or Sells. Additionally, the $3.50 average price target matches Messer’s. (See CTIC stock analysis on TipRanks)PhaseBio Pharmaceuticals (PHAS)When it comes to PhaseBio, its focus lands squarely on the lack of new treatment options for serious cardiovascular diseases. Even though the pandemic has created challenges for the company, several members of the Street believe it can overcome these obstacles, with its $4.39 price tag reflecting an attractive entry point.Five-star analyst Andrew Fein, of H.C. Wainwright, reminds investors that its lead candidate, PB2452, which was designed to reverse ticagrelor antiplatelet effects in major uncontrolled bleeding and urgent emergency surgery events, has entered its pivotal Phase 3 trial. While this is exciting, the analyst doesn’t dispute that COVID-19 has spurred headwinds.Expounding on this, Fein stated, “Specifically, ERs have focused their attention on treating COVID-19 patients, while surgical sites remain in the process of trying to get back up and running amid shelter-in-place guidance. Therefore, we believe site initiations and patient enrollment are to continue to be site specific for the foreseeable future, based on available site resources and overall quarantine guidelines.” That being said, Fein remains optimistic about the PB2452 platform, as it “directly addresses the unmet therapeutic need in antiplatelet patients facing major bleeding and urgent surgery circumstances that could otherwise result in death or treatment delay.” He added, “We point out there are no ticagrelor or antiplatelet reversal agents, and ticagrelor reversibly binds the P2Y12 receptor, making it the only potentially reversible oral antiplatelet therapy.”Although enrollment was halted for the Phase 2 PB1046 program, the fact that PB2452 Phase 2a data could potentially be presented during the upcoming European Society of Cardiology (ESC) 2020 virtual conference in August 2020 seals the deal for Fein. To this end, Fein maintained a Buy rating on PHAS with an $18 price target, suggesting 298% upside potential from current levels. (To watch Fein’s track record, click here) Looking at the consensus breakdown, other analysts are on the same page. With 5 Buys and no Holds or Sells, the word on the Street is that PHAS is a Strong Buy. The $13 average price target puts the upside potential at 187%. (See PhaseBio stock analysis on TipRanks)Diffusion Pharmaceuticals (DFFN)As for the final stock on our list, Diffusion Pharmaceuticals develops new treatments for life-threatening medical conditions by improving the body’s ability to deliver oxygen to the areas where it is needed most. Currently going for $0.95 apiece, one analyst thinks that now is the time to snap up shares.Covering DFFN for H.C. Wainwright, analyst Swayampakula Ramakanth is looking forward to the initiation of its COVID-19 study. At the end of May, the company received a response from the FDA regarding its Pre-Investigational New Drug (PIND) meeting request on the proposed clinical development program to assess trans sodium crocetinate (TSC) in COVID-19 patients with severe respiratory symptoms and low oxygen levels.The FDA stated the study should be designed as a double-blinded, controlled, randomized trial by including Gilead’s COVID-19 treatment, remdesivir, as a component of standard of care for hospitalized patients. Additionally, the agency also accepted the proposed safety and oxygenation marker endpoints.If that wasn’t enough, Ramakanth highlights the fact that a European COVID-19 study of TSC will be conducted in collaboration with the Romanian National Institute of Infectious Diseases (NIID), which is the largest provider of treatment for COVID-19 patients in Romania. “Diffusion expects to enroll the first patient for the European study in June, upon regulatory approval, and report initial data in 3Q20, which we believe could be a catalyst,” the analyst said.It’s true that the ongoing public health crisis could slow down the enrollment for its Phase 2 PHAST-TSC (Pre-Hospital Administration of Stroke Therapy-TSC) stroke study, designed to evaluate the therapy as an acute stroke treatment. That said, Ramakanth remains unphased by a possible delay.“In our view, given that the pandemic is starting to abate and TSC is being studied as acute treatment, Diffusion could be able to get the PHAST-TSC study completed as planned. While reporting the company’s 4Q19 earnings, management stated their expectation to complete the study enrollment in 2021 and report topline data in 2022,” the analyst explained.Based on all of the above, Ramakanth rates DFFN a Buy along with a $3.50 price target. This target suggests shares could soar 286% in the next twelve months. (To watch Ramakanth’s track record, click here)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
In this article we will check out the progression of hedge fund sentiment towards CTI Biopharma Corp. (NASDAQ:CTIC) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]
U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions. Market leaders Facebook Inc, Apple Inc and Amazon.com provided the biggest lift to the S&P 500 and the Nasdaq, while Boeing Co gave the Dow its biggest boost. "Certainly the pace of the stock market recovery can't continue at the pace it has been," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
Wall Street stocks posted modest gains on Monday as signs suggesting the U.S. economy may be on the road to recovery helped soothe jitters over increasingly violent social unrest and rising U.S.-China tensions. Market leaders Apple Inc, Amazon.com and Facebook Inc provided the biggest lift to the S&P 500 and the Nasdaq, while Boeing Co provided the blue-chip Dow with its biggest boost.
CTI BioPharma Corp. (Nasdaq: CTIC) today announced that it has enrolled the first patient in the Phase 3 PRE-VENT trial (NCT04404361) of pacritinib in hospitalized patients with severe COVID-19. PRE-VENT, a randomized, double-blind, placebo-controlled multicenter study, will compare pacritinib plus standard of care versus placebo and standard of care in 358 hospitalized patients with severe COVID-19, including patients with and without cancer. The primary endpoint of the trial will assess the proportion of patients who progress to invasive mechanical ventilation and/or extracorporeal membrane oxygenation or die by Day 28.
CTI BioPharma Corp. (CTI BioPharma) (NASDAQ: CTIC) today announced that management will provide a corporate overview at the Jefferies 2020 Healthcare Conference at 2:30 p.m. EDT. The conference will be held in a virtual meeting format.
CTI BioPharma Corp. (NASDAQ:CTIC) shareholders should be happy to see the share price up 17% in the last month. But...
CTI BioPharma Corp. (Nasdaq: CTIC) today announced the initiation of PRE-VENT, a Phase 3 study evaluating pacritinib in hospitalized patients with severe COVID-19. PRE-VENT, a randomized, double-blind, placebo-controlled multicenter study, will compare pacritinib plus standard of care (SOC) versus placebo plus standard of care in 358 hospitalized patients with severe COVID-19, including patients with and without cancer. The primary endpoint of the trial will assess the proportion of patients who progress to invasive mechanical ventilation and/or extracorporeal membrane oxygenation or die by Day 28. CTI expects to commence enrollment of PRE-VENT in May at sites in the United States and in Europe with data expected by the end of 2020.
CTI BioPharma Corp. (CTI BioPharma) (NASDAQ: CTIC) today announced that management will provide a corporate overview at the Needham Healthcare Conference at 10:40 a.m. EDT. The conference will be held in a virtual meeting format.
Anyone researching CTI BioPharma Corp. (NASDAQ:CTIC) might want to consider the historical volatility of the share...
CTI BioPharma Corp. (Nasdaq: CTIC) today reported its financial results for the fourth quarter and full year ended December 31, 2019.
CTI BioPharma Corp. (Nasdaq: CTIC) today announced the closing of its previously announced rights offering (the "Rights Offering"). At the closing, CTI BioPharma sold and issued an aggregate of 15,698,995 shares of its common stock (the "Common Stock") and an aggregate of 4,429.2423 shares of its series X convertible preferred stock (the "Series X Preferred") pursuant to the exercise of subscription rights and Oversubscription Rights in the Rights Offering by existing holders of CTI Biopharma's Common Stock and series O convertible preferred stock. The Rights Offering was fully backstopped by certain existing stockholders of CTI BioPharma who agreed to purchase any shares of Common Stock and/or Series X Preferred offered in the Rights Offering that were not subscribed for (the "Oversubscription Rights"). CTI BioPharma raised aggregate gross proceeds of approximately $60.0 million in the Rights Offering.
The Seattle biotech, which was out of compliance with Nasdaq in December, has regained its standing due to positive data shared at a conference Dec. 9.
CTI BioPharma Corp. (Nasdaq: CTIC) today commenced its previously announced rights offering to raise gross proceeds of approximately $60.0 million (the "Rights Offering"). Under the terms of the Rights Offering, the holders, as of 5:00 p.m., New York time, on February 13, 2020, of CTI BioPharma's common stock (the "Common Stock") and series O convertible preferred stock (the "Series O Preferred"), are entitled to exercise their subscription rights to purchase their pro rata share (assuming full conversion of the Series O Preferred into shares of Common Stock) of the $60.0 million offering amount, as more fully described in the prospectus supplement (and accompanying prospectus), dated February 14, 2020, relating to the Rights Offering (the "Prospectus"). Each subscription right may be exercised to purchase a share of Common Stock at a subscription price equal to $1.00 per share of Common Stock or, in lieu of Common Stock, an equivalent number of shares of non-voting series X convertible preferred stock (the "Series X Preferred") at a purchase price equal to $10,000 per share of Series X Preferred. The subscription rights may be exercised at any time during the subscription period of February 14, 2020 through 5:00 p.m., New York time, on March 2, 2020.
CTI BioPharma Corp. (Nasdaq: CTIC) today announced its intent to raise $60 million through a fully backstopped rights offering. Under the terms of the rights offering, investors as of February 13, 2020 in CTI BioPharma's common stock and preferred stock will receive a subscription right entitling them to purchase their pro rata share of the $60 million offering amount. The rights offering will be fully backstopped by BVF Partners L.P., Stonepine Capital, L.P., OrbiMed Private Investments VI, LP and New Enterprise Associates, Inc. each of which have agreed to purchase, at a minimum, its respective as-converted pro rata share of the offering amount, plus an additional amount of securities that are not subscribed for by other purchasers in the rights offering, for a total of up to $60 million.
Adam Craig became the CEO of CTI BioPharma Corp. (NASDAQ:CTIC) in 2017. This analysis aims first to contrast CEO...
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
CTI BioPharma Corp. (Nasdaq: CTIC) today announced the presentation of data from the Company's pacritinib development program, including results from the PAC203 Phase 2 clinical trial, at the 61st American Society of Hematology (ASH) Annual Meeting being held December 7-10 in Orlando, Florida.
Biotech stocks went back and forth but managed to end the week with a gain. As usual, some stocks swung wildly in reaction to catalysts, primarily clinical readouts. Aurinia Pharmaceuticals Inc (NASDAQ: ...
SEATTLE , Nov. 6, 2019 /PRNewswire/ -- CTI BioPharma Corp. (Nasdaq: CTIC) today announced four poster presentations and one oral presentation supporting the Company's pacritinib development program at ...
SEATTLE , Nov. 4, 2019 /PRNewswire/ -- CTI BioPharma Corp. (Nasdaq: CTIC) today reported its financial results for the third quarter and nine months ended September 30, 2019 . "We advanced our pacritinib ...
SEATTLE, Oct. 1, 2019 /PRNewswire/ -- CTI BioPharma Corp. (CTIC) today announced that it has initiated patient enrollment in the PACIFICA pivotal Phase 3 trial of its investigational myelofibrosis treatment candidate, pacritinib. The PACIFICA trial will compare the safety and efficacy of 200 mg of pacritinib administered twice daily (BID) to Physician's Choice in 180 adult myelofibrosis patients with severe thrombocytopenia (platelet counts of less than 50,000 per microliter). "Initiation of the PACIFICA Phase 3 trial is an important step forward for the company and the pacritinib development program," said Adam R. Craig, M.D., Ph.D., President and Chief Executive Officer of CTI BioPharma.
SEATTLE , Aug. 1, 2019 /PRNewswire/ -- CTI BioPharma Corp. (Nasdaq: CTIC) today reported its financial results for the second quarter and six months ended June 30, 2019 . "We remain focused on advancing ...
SEATTLE, July 18, 2019 /PRNewswire/ -- CTI BioPharma Corp. (CTIC) ("CTI" or "the Company") today announced the outcome of a Type B, End-of-Phase-2a meeting with the U.S. Food and Drug Administration ("FDA" or "the Agency") for the continued development of its investigational myelofibrosis treatment candidate, pacritinib. Following this meeting, CTI plans to evaluate 200 mg of pacritinib administered twice daily (BID) in 180 patients with myelofibrosis and severe thrombocytopenia.