HC Wainwright Has Lowered Expectations for CASI Pharmaceuticals (NASDAQ:CASI) Stock Price

CASI Pharmaceuticals (NASDAQ:CASI) had its price objective decreased by HC Wainwright from $6.00 to $4.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 109.42% from the stock’s previous close.

Separately, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research report on Friday, April 4th. They set a “hold” rating on the stock.

CASI Pharmaceuticals Stock Down 9.5 %

Shares of CASI opened at $1.91 on Wednesday. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. CASI Pharmaceuticals has a 12 month low of $1.88 and a 12 month high of $7.67. The firm’s 50 day moving average is $2.28 and its 200-day moving average is $3.54. The stock has a market capitalization of $23.49 million, a PE ratio of -0.86 and a beta of 0.66.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%. The company had revenue of $13.36 million during the quarter, compared to the consensus estimate of $7.39 million.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP grew its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.23% of the company’s stock.

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.