Would you discard CTI BioPharma Corp. (NASDAQ:CTIC)?


Shares of CTI BioPharma Corp. (NASDAQ:CTIC) last traded at $3.25. The firm?s performance so far in this year is -20.26%. The 200-day simple moving average is -23.11%. It is considered a key indicator by market analysts and traders for determining the long-term trend. The price mark in a market that coincides with it is recognized as a key support when price moves above the 200-day SMA or resistance when stock price is below this level.

As per recent filings, CTI BioPharma Corp. (NASDAQ:CTIC) has an insider ownership of 1.40%.

CTI BioPharma Corp. is a biopharmaceutical company. It is focused on the acquisition, development and commercialization of therapies covering a spectrum of blood-related cancers. The company is heavily focused on marketing its approved therapy Pixuvri in Europe, and on continuing the development of its late-stage development pipeline, including pacritinib. CTI BioPharma Corp., formerly known as Cell Therapeutics, Inc., is headquartered in Seattle, Washington.

CTI BioPharma Corp. (NASDAQ:CTIC) has been storming Wall Street with promising press release. Recently, the firm reported that according to the March 2017 analysis commissioned by RetailMeNot and performed by Forrester Consulting, the firm’s mobile marketing solutions result in a 3-year, risk-adjusted ROI of 4.3x.

The Barchart Technical Opinion rating is a 100% Sell with a Strongest short term outlook on maintaining the current direction. Longer term, the trend strength is in the Top 1%. Long term indicators fully support a continuation of the trend.

The Exponential Moving Average is a tool same as a simple moving average, with the only difference being a weighting factor used by EMA that exponentially declines from the recent data point. EMA analysis checks the averages for different period, including short term that is 5 days and 13 days, intermediate term for 20 days and long term of 50 days EMA. The bullish signals are received when they trade above trailing EMAs and below the prevailing price and vice versa. EMA signals include crossovers and EMA convergences The 5 day EMA 3.82 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 4.14 is also higher than the current trading price depicting a bearish trend overall..

The relative strength index can be marked as a momentum oscillator that is able to read the velocity and magnitude of equity price changes. The current RSI is 20.97 suggesting a bearish price action.

CTI BioPharma Corp. (NASDAQ:CTIC) is all set to post its earnings on May 03/a. As per Zack’s analyst ratings, CTI BioPharma Corp. (NASDAQ:CTIC) presently has an average brokerage rating of 3. On a scale of 1 – 5, a rating of 2 or 1 would indicate a buy, and a 4 or 5 rating would signify a sell while a rating of 3 indicates a hold. The consensus target price on (NASDAQ:CTIC) is $7.5 with a high of $7.5 and a low of $7.5.

As such, while we consider CTI BioPharma Corp. (NASDAQ:CTIC) represents a convincing growth story exposed to different attractive markets, it would be enticing to see what it brings for long-term investors.

CTI BioPharma Corp. (“CTI”) (NASDAQ and MTA: CTIC) today announced the pricing of an underwritten public offering of 22,500 shares of its Series N-3 Preferred Stock, offered at a price to the public of $2,000 per share of Series N-3 Preferred Stock (the “Offering”). Each share of Series N-3 Preferred Stock is convertible at the option of the holder, at any time subject to certain limitations, into shares of our common stock at a conversion price of $3.00 per share of common stock, for a total of approximately 15.0 million shares of common stock.

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