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

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

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of CASI Pharmaceuticals in a research note on Monday.

CASI Pharmaceuticals Trading Up 2.7%

Shares of CASI opened at $1.92 on Thursday. The business’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.80. CASI Pharmaceuticals has a twelve month low of $1.64 and a twelve month high of $7.67. The stock has a market cap of $23.61 million, a PE ratio of -0.86 and a beta of 0.81. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Friday, May 16th. The biotechnology company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.08). The business had revenue of $6.24 million for the quarter, compared to analysts’ expectations of $7.39 million. CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 64.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 164,365 shares of the biotechnology company’s stock after buying an additional 64,675 shares during the quarter. Woodline Partners LP owned about 1.34% of CASI Pharmaceuticals worth $355,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.