CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI – Get Rating) in a research note issued to investors on Sunday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI has been the subject of several other reports. HC Wainwright decreased their target price on shares of CASI Pharmaceuticals from $4.00 to $3.00 in a research note on Friday, May 13th. Zacks Investment Research upgraded shares of CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 13th.

NASDAQ:CASI opened at $0.38 on Friday. The company has a market cap of $52.25 million, a PE ratio of -1.75 and a beta of 0.66. CASI Pharmaceuticals has a twelve month low of $0.31 and a twelve month high of $1.78. The company’s 50 day moving average is $0.60 and its two-hundred day moving average is $0.75.

CASI Pharmaceuticals (NASDAQ:CASI – Get Rating) last released its earnings results on Thursday, May 12th. The biotechnology company reported ($0.06) earnings per share 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 quarter in the prior year, the firm posted ($0.11) EPS. As a group, research analysts anticipate that CASI Pharmaceuticals will post -0.22 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CASI. UBS Group AG grew its holdings in shares of CASI Pharmaceuticals by 493.1% in the third quarter. UBS Group AG now owns 26,715 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 22,211 shares during the period. Citadel Advisors LLC purchased a new position in CASI Pharmaceuticals during the third quarter worth about $35,000. Marshall Wace LLP purchased a new position in CASI Pharmaceuticals during the first quarter worth about $44,000. Citigroup Inc. purchased a new position in CASI Pharmaceuticals during the first quarter worth about $59,000. Finally, Virtu Financial LLC boosted its stake in shares of CASI Pharmaceuticals by 164.4% in the fourth quarter. Virtu Financial LLC now owns 80,806 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 50,246 shares during the period. Institutional investors and hedge funds own 39.51% of the company’s stock.

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.

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