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

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright dropped their price objective on shares of CASI Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th.

CASI Pharmaceuticals Stock Up 4.7 %

CASI Pharmaceuticals stock opened at $2.02 on Friday. The company has a market capitalization of $24.84 million, a P/E ratio of -0.91 and a beta of 0.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. CASI Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $7.67. The stock has a 50-day simple moving average of $2.22 and a 200-day simple moving average of $3.39.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP boosted its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the period. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent SEC filing. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.