CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Monday. The brokerage set a “hold” rating on the biotechnology company’s stock.

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

CASI Pharmaceuticals Trading Down 0.7 %

NASDAQ:CASI opened at $4.40 on Monday. The company has a 50-day moving average price of $2.93 and a 200-day moving average price of $2.65. CASI Pharmaceuticals has a 12 month low of $1.45 and a 12 month high of $4.99. The stock has a market cap of $58.61 million and a price-to-earnings ratio of -1.45.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its earnings results on Friday, August 11th. The biotechnology company reported ($0.77) EPS 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 company had revenue of $9.82 million during the quarter, compared to analysts’ expectations of $10.09 million. Equities analysts forecast that CASI Pharmaceuticals will post -2.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new position in shares of CASI Pharmaceuticals in the 3rd quarter worth about $27,000. Susquehanna International Group LLP increased its stake in shares of CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 23,758 shares in 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 in the last quarter. Citigroup Inc. bought a new position in shares of CASI Pharmaceuticals in the 1st quarter worth about $59,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of CASI Pharmaceuticals in the 1st quarter worth about $323,000. 14.62% of the stock is currently owned by institutional investors.

CASI Pharmaceuticals Company Profile

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.