CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

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

Separately, HC Wainwright dropped their price objective 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 Price Performance

CASI Pharmaceuticals stock opened at $1.88 on Tuesday. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a market cap of $23.06 million, a P/E ratio of -0.84 and a beta of 0.81. The company has a 50-day moving average price of $2.09 and a 200 day moving average price of $3.05. CASI Pharmaceuticals has a 12-month low of $1.64 and a 12-month high of $7.67.

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

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises approximately 1.7% of Foresite Capital Management VI LLC’s portfolio, making the stock its 13th largest position. Foresite Capital Management VI LLC owned approximately 8.58% of CASI Pharmaceuticals as of its most recent SEC filing. 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.