StockNews.com Begins Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of CASI Pharmaceuticals in a research note on Monday, August 14th.

CASI Pharmaceuticals Price Performance

CASI stock opened at $2.17 on Friday. The business’s fifty day moving average price is $2.43 and its two-hundred day moving average price is $2.44. The stock has a market capitalization of $28.89 million and a price-to-earnings ratio of -0.71. CASI Pharmaceuticals has a fifty-two week low of $1.45 and a fifty-two week high of $4.86.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Friday, August 11th. The biotechnology company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.27). CASI Pharmaceuticals had a negative return on equity of 92.06% and a negative net margin of 93.92%. The business had revenue of $9.82 million during the quarter, compared to analyst estimates of $10.09 million. Research analysts expect that CASI Pharmaceuticals will post -2.23 EPS for the current year.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of CASI. Wellington Shields Capital Management LLC acquired a new position in shares of CASI Pharmaceuticals in the 1st quarter valued at approximately $418,000. Wellington Shields & Co. LLC acquired a new stake in shares of CASI Pharmaceuticals in the 1st quarter valued at $323,000. Citigroup Inc. bought a new position in shares of CASI Pharmaceuticals in the 1st quarter valued at $59,000. Virtu Financial LLC raised its holdings in shares of CASI Pharmaceuticals by 39.6% during the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after buying an additional 31,971 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of CASI Pharmaceuticals by 70.6% during the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after buying an additional 23,758 shares during the last quarter. Institutional investors own 14.62% of the company’s stock.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in the People's Republic of 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.