CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by Analysts at StockNews.com

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

Separately, HC Wainwright cut their target price on 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 Performance

Shares of CASI Pharmaceuticals stock opened at $1.98 on Friday. CASI Pharmaceuticals has a 12 month low of $1.88 and a 12 month high of $7.67. The stock’s fifty day moving average price is $2.20 and its 200-day moving average price is $3.34. The firm has a market cap of $24.35 million, a P/E ratio of -0.89 and a beta of 0.66. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

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

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC bought a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises about 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest holding. Foresite Capital Management VI LLC owned approximately 8.58% of CASI Pharmaceuticals at the end of the most recent reporting period. 22.23% of the stock is owned by 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.