CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

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

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

CASI Pharmaceuticals Price Performance

CASI stock opened at $5.25 on Tuesday. 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 one year low of $1.90 and a one year high of $8.48. The stock has a market cap of $70.35 million, a PE ratio of -2.30 and a beta of 0.68. The firm has a 50 day simple moving average of $3.41 and a two-hundred day simple moving average of $4.46.

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

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals as of its most recent filing with the SEC. 22.23% of the stock is currently owned by institutional investors.

About CASI Pharmaceuticals

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.