Brokerages Expect CASI Pharmaceuticals, Inc. (NASDAQ:CASI) Will Announce Quarterly Sales of $9.15 Million

Analysts expect CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Rating) to report $9.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CASI Pharmaceuticals’ earnings. The lowest sales estimate is $8.60 million and the highest is $9.70 million. CASI Pharmaceuticals posted sales of $5.74 million during the same quarter last year, which would suggest a positive year over year growth rate of 59.4%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that CASI Pharmaceuticals will report full year sales of $42.45 million for the current year, with estimates ranging from $40.10 million to $44.80 million. For the next financial year, analysts anticipate that the firm will report sales of $112.18 million, with estimates ranging from $105.06 million to $119.30 million. Zacks’ sales calculations are an average based on a survey of research firms that cover CASI Pharmaceuticals.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last issued its quarterly earnings results on Monday, March 28th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. CASI Pharmaceuticals had a negative return on equity of 40.06% and a negative net margin of 121.50%. During the same period in the previous year, the business earned ($0.12) earnings per share.

A number of analysts have issued reports on the company. StockNews.com started coverage on CASI Pharmaceuticals in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASI. Marshall Wace LLP increased its stake in CASI Pharmaceuticals by 325.6% in the 3rd quarter. Marshall Wace LLP now owns 952,037 shares of the biotechnology company’s stock worth $1,133,000 after buying an additional 728,328 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in shares of CASI Pharmaceuticals by 128.8% during the 4th quarter. Susquehanna International Group LLP now owns 531,064 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 298,955 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CASI Pharmaceuticals by 34.2% during the 3rd quarter. Geode Capital Management LLC now owns 944,729 shares of the biotechnology company’s stock valued at $1,124,000 after purchasing an additional 240,841 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of CASI Pharmaceuticals by 930.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 218,428 shares of the biotechnology company’s stock valued at $260,000 after purchasing an additional 197,236 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of CASI Pharmaceuticals by 143.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 151,183 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 89,131 shares during the last quarter. 46.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CASI stock traded down $0.03 during trading hours on Friday, reaching $0.62. The company had a trading volume of 191,191 shares, compared to its average volume of 402,695. The business has a fifty day simple moving average of $0.80 and a 200-day simple moving average of $0.88. CASI Pharmaceuticals has a 12 month low of $0.56 and a 12 month high of $1.99.

CASI Pharmaceuticals Company Profile (Get Rating)

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in 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.

Featured Stories

Get a free copy of the Zacks research report on CASI Pharmaceuticals (CASI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CASI Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CASI Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.