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

Investment analysts at StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

NASDAQ:CASI opened at $2.13 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The company has a 50 day moving average price of $2.52 and a 200-day moving average price of $4.25. CASI Pharmaceuticals has a 1-year low of $2.04 and a 1-year high of $7.67. The firm has a market cap of $33.00 million, a price-to-earnings ratio of -0.96 and a beta of 0.41.

Hedge Funds Weigh In On CASI Pharmaceuticals

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