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

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report published on Saturday. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright reduced their target price 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 Trading Up 7.6 %

Shares of NASDAQ CASI opened at $2.10 on Friday. CASI Pharmaceuticals has a 1-year low of $1.88 and a 1-year high of $7.67. 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 business’s 50 day moving average is $2.26 and its two-hundred day moving average is $3.48. The stock has a market capitalization of $25.80 million, a P/E ratio of -0.94 and a beta of 0.66.

CASI Pharmaceuticals (NASDAQ:CASI) last released its 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 net margin of 143.18% and a negative return on equity of 181.52%. The company had revenue of $13.36 million for the quarter, compared to the consensus estimate of $7.39 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP increased its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the period. Woodline Partners LP owned about 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.