CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note released on Saturday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright reduced their price target on shares of CASI Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday.

CASI Pharmaceuticals Trading Up 4.7 %

Shares of CASI stock opened at $2.00 on Friday. The business’s fifty day moving average price is $2.27 and its 200 day moving average price is $3.52. The firm has a market capitalization of $24.60 million, a PE ratio of -0.90 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. CASI Pharmaceuticals has a 1-year low of $1.88 and a 1-year high of $7.67.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP boosted its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the Securities and Exchange Commission. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

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.