NEW YORK (TheStreet) -- Cell Therapeutics (CTIC) - Get Report shares are climbing, up 16% to $2.94 on Thursday, after having coverage initiated with a "buy" rating by analysts at Ladenburg (LTS) - Get Report.

The firm set a price target of $6 on the shares, suggesting a 124% increase from the stock's opening price today.

TheStreet profiled the company and its experimental Jak-2 inhibitor for myelofibrosis, pacritinib, back in January.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Image placeholder title

CTIC data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.