CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated by Analysts at StockNews.com

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

Separately, HC Wainwright decreased their target price on shares of CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating on the stock in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Stock Performance

Shares of NASDAQ:CASI opened at $7.00 on Friday. The company’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $4.39. The stock has a market capitalization of $93.80 million, a price-to-earnings ratio of -3.07 and a beta of 0.68. The company has a debt-to-equity ratio of 1.20, a current ratio of 5.05 and a quick ratio of 3.25. CASI Pharmaceuticals has a 1 year low of $1.90 and a 1 year high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). The firm had revenue of $3.41 million during the quarter. CASI Pharmaceuticals had a negative net margin of 105.76% and a negative return on equity of 110.11%. As a group, research analysts predict that CASI Pharmaceuticals will post -2.56 EPS for the current fiscal year.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 0.30% of CASI Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 22.23% of the stock is currently 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.