CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report released on Monday. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $2.39 on Monday. The stock has a fifty day moving average price of $2.60 and a 200 day moving average price of $4.41. The stock has a market cap of $37.03 million, a PE ratio of -1.07 and a beta of 0.60. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC acquired a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises about 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th biggest position. Foresite Capital Management VI LLC owned 8.58% of CASI Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 22.23% of the company’s stock.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of China, the United States, and internationally. It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.