CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASIGet Rating) in a report issued on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

Several other research analysts also recently commented on the company. BTIG Research increased their price objective on CASI Pharmaceuticals from $4.00 to $21.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright reduced their price objective on CASI Pharmaceuticals from $40.00 to $30.00 in a research note on Friday, May 13th. Finally, Zacks Investment Research raised CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, May 13th.

Shares of NASDAQ:CASI opened at $3.28 on Tuesday. The business’s 50 day moving average price is $5.00 and its 200-day moving average price is $6.99. CASI Pharmaceuticals has a 1 year low of $3.06 and a 1 year high of $17.50. The firm has a market capitalization of $44.63 million, a price-to-earnings ratio of -1.49 and a beta of 0.67.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.40. CASI Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 93.65%. The firm had revenue of $9.06 million during the quarter, compared to the consensus estimate of $9.15 million. During the same period in the prior year, the company earned ($1.10) EPS. As a group, analysts forecast that CASI Pharmaceuticals will post -2.15 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP increased its stake in shares of 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 acquiring 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 3rd quarter. Goldman Sachs Group Inc. now owns 199,986 shares of the biotechnology company’s stock worth $238,000 after acquiring an additional 48,803 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of CASI Pharmaceuticals by 4.6% in the 3rd quarter. Renaissance Technologies LLC now owns 1,618,155 shares of the biotechnology company’s stock worth $1,926,000 after acquiring an additional 71,849 shares during the last quarter. Virtu Financial LLC increased its stake in shares of CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 31,971 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of CASI Pharmaceuticals by 781.2% in the 2nd quarter. Morgan Stanley now owns 43,285 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 38,373 shares during the last quarter. 39.51% of the stock is owned by institutional investors and hedge funds.

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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