HC Wainwright Research Analysts Lift Earnings Estimates for CASI Pharmaceuticals, Inc. (NASDAQ:CASI)

CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Rating) – Stock analysts at HC Wainwright boosted their FY2022 earnings estimates for CASI Pharmaceuticals in a research report issued on Tuesday, November 15th. HC Wainwright analyst S. Lee now forecasts that the biotechnology company will post earnings of ($2.16) per share for the year, up from their prior forecast of ($2.26). HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for CASI Pharmaceuticals’ current full-year earnings is ($1.41) per share. HC Wainwright also issued estimates for CASI Pharmaceuticals’ Q4 2022 earnings at ($0.61) EPS, Q1 2023 earnings at ($0.57) EPS, Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.55) EPS, Q4 2023 earnings at ($0.38) EPS, FY2023 earnings at ($2.05) EPS, FY2024 earnings at ($0.59) EPS, FY2025 earnings at ($0.38) EPS and FY2026 earnings at ($0.09) EPS.

Other equities research analysts have also recently issued reports about the stock. BTIG Research cut their price objective on shares of CASI Pharmaceuticals from $21.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Performance

CASI stock opened at $1.87 on Thursday. The stock has a market capitalization of $25.44 million, a price-to-earnings ratio of -0.96 and a beta of 0.43. CASI Pharmaceuticals has a 1 year low of $1.81 and a 1 year high of $10.50. The stock’s fifty day moving average is $2.59 and its two-hundred day moving average is $3.03.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several institutional investors have recently made changes to their positions in CASI. Wellington Shields & Co. LLC lifted its holdings in shares of CASI Pharmaceuticals by 27.3% during the 1st quarter. Wellington Shields & Co. LLC now owns 1,453,190 shares of the biotechnology company’s stock valued at $1,177,000 after buying an additional 312,000 shares during the last quarter. Citigroup Inc. acquired a new stake in CASI Pharmaceuticals in the 1st quarter worth approximately $59,000. Virtu Financial LLC lifted its holdings in 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 purchasing an additional 31,971 shares during the last quarter. Bailard Inc. lifted its holdings in CASI Pharmaceuticals by 25.6% in the 2nd quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 6,430 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in CASI Pharmaceuticals in the 3rd quarter worth approximately $29,000. 36.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CASI Pharmaceuticals

In other CASI Pharmaceuticals news, Director James Huang bought 33,300 shares of the stock in a transaction on Thursday, September 8th. The shares were bought at an average price of $4.28 per share, with a total value of $142,524.00. Following the purchase, the director now directly owns 371,517 shares in the company, valued at approximately $1,590,092.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 120,094 shares of company stock valued at $463,984 in the last 90 days. 26.59% of the stock is currently owned by corporate insiders.

CASI Pharmaceuticals Company Profile

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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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Earnings History and Estimates for CASI Pharmaceuticals (NASDAQ:CASI)

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