HC Wainwright Issues Pessimistic Forecast for CASI Pharmaceuticals (NASDAQ:CASI) Stock Price

CASI Pharmaceuticals (NASDAQ:CASI) had its price objective trimmed by HC Wainwright from $6.00 to $4.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Separately, StockNews.com assumed coverage on CASI Pharmaceuticals in a report on Friday, April 4th. They issued a “hold” rating for the company.

CASI Pharmaceuticals Trading Down 4.0 %

CASI stock traded down $0.08 during trading on Wednesday, reaching $2.03. 4,042 shares of the stock traded hands, compared to its average volume of 82,072. The firm has a market capitalization of $24.92 million, a PE ratio of -0.91 and a beta of 0.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The business’s 50 day moving average price is $2.29 and its 200-day moving average price is $3.57. CASI Pharmaceuticals has a 52-week low of $1.90 and a 52-week high of $7.67.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). The business had revenue of $13.36 million for the quarter, compared to analyst estimates of $7.39 million. CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP boosted its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the period. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.