Why Cell Therapeutics (CTIC) Stock Is Spiking Today

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

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 ReadWarren 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.

CTIC Chart

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.

If you liked this article you might like

What Adam Feuerstein Got Right and Wrong About Biotech Stocks in 2016

2016 Was a Terrible Year for Biotech but the Tweets Were on Point

Gilead Sciences' Next Challenge to Incyte's Myelofibrosis Drug Dominance

Insider Trading Alert - LPNT, PATK And CTIC Traded By Insiders

Insider Trading Alert - SPTN, FL And CTIC Traded By Insiders