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

Research 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 dropped their price target on CASI Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th.

CASI Pharmaceuticals Stock Performance

NASDAQ:CASI opened at $1.92 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The stock has a market capitalization of $23.61 million, a PE ratio of -0.86 and a beta of 0.66. CASI Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $7.67. The company has a fifty day moving average of $2.21 and a two-hundred day moving average of $3.35.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $7.39 million.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP lifted its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned about 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. 22.23% of the stock is 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.