$7.16 Million in Sales Expected for CASI Pharmaceuticals, Inc. (NASDAQ:CASI) This Quarter

Wall Street brokerages expect CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Rating) to post sales of $7.16 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for CASI Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $6.10 million and the highest estimate coming in at $8.23 million. CASI Pharmaceuticals also reported sales of $7.16 million during the same quarter last year. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that CASI Pharmaceuticals will report full-year sales of $38.98 million for the current financial year, with estimates ranging from $38.45 million to $39.50 million. For the next fiscal year, analysts forecast that the company will post sales of $78.27 million, with estimates ranging from $68.14 million to $88.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover CASI Pharmaceuticals.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last released its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. CASI Pharmaceuticals had a negative net margin of 93.65% and a negative return on equity of 36.81%. During the same period in the prior year, the firm posted ($0.11) earnings per share.

A number of research firms have recently issued reports on CASI. HC Wainwright dropped their price objective on shares of CASI Pharmaceuticals from $4.00 to $3.00 in a report on Friday, May 13th. Zacks Investment Research upgraded shares of CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. Finally, StockNews.com started coverage on shares of CASI Pharmaceuticals in a research report on Sunday. They issued a “hold” rating on the stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in CASI Pharmaceuticals by 325.6% during the third quarter. Marshall Wace LLP now owns 952,037 shares of the biotechnology company’s stock valued at $1,133,000 after buying an additional 728,328 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of CASI Pharmaceuticals by 32.3% in the third quarter. Goldman Sachs Group Inc. now owns 199,986 shares of the biotechnology company’s stock worth $238,000 after purchasing an additional 48,803 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CASI Pharmaceuticals in the third quarter worth $72,000. Renaissance Technologies LLC increased its stake in shares of CASI Pharmaceuticals by 4.6% in the third quarter. Renaissance Technologies LLC now owns 1,618,155 shares of the biotechnology company’s stock worth $1,926,000 after purchasing an additional 71,849 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of CASI Pharmaceuticals by 781.2% in the second quarter. Morgan Stanley now owns 43,285 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 38,373 shares in the last quarter. 39.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CASI opened at $0.38 on Friday. CASI Pharmaceuticals has a one year low of $0.31 and a one year high of $1.78. The company has a market cap of $52.25 million, a price-to-earnings ratio of -1.75 and a beta of 0.66. The firm has a fifty day moving average price of $0.60 and a two-hundred day moving average price of $0.75.

About CASI Pharmaceuticals (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.