CASI Pharmaceuticals (NASDAQ:CASI) Releases Quarterly Earnings Results, Misses Estimates By $0.27 EPS

CASI Pharmaceuticals (NASDAQ:CASI) issued its earnings results on Friday. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.27), Zacks reports. The firm had revenue of $3.08 million during the quarter. CASI Pharmaceuticals had a negative net margin of 148.55% and a negative return on equity of 972.55%.

CASI Pharmaceuticals Stock Performance

CASI Pharmaceuticals stock traded down $0.08 during mid-day trading on Friday, reaching $1.26. The stock had a trading volume of 19,040 shares, compared to its average volume of 415,927. The firm has a market capitalization of $15.50 million, a PE ratio of -0.44 and a beta of 0.90. CASI Pharmaceuticals has a fifty-two week low of $1.09 and a fifty-two week high of $5.95. The stock’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $1.73.

Analyst Ratings Changes

CASI has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CASI Pharmaceuticals in a report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of CASI Pharmaceuticals in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Two Sigma Investments LP bought a new stake in CASI Pharmaceuticals Inc. (NASDAQ:CASI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,267 shares of the biotechnology company’s stock, valued at approximately $55,000. Two Sigma Investments LP owned approximately 0.27% of CASI Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds 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.