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 research report sent to investors on Friday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright dropped 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 Trading Down 0.5 %

NASDAQ CASI opened at $6.60 on Friday. The company’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $4.39. CASI Pharmaceuticals has a 52 week low of $1.90 and a 52 week high of $8.48. The company has a current ratio of 5.05, a quick ratio of 3.25 and a debt-to-equity ratio of 1.20. The stock has a market cap of $88.44 million, a P/E ratio of -2.89 and a beta of 0.68.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its 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 firm had revenue of $3.41 million for the quarter. Equities research analysts predict that CASI Pharmaceuticals will post -2.56 EPS for the current fiscal year.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned about 0.30% of CASI Pharmaceuticals at the end of the most recent quarter. 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.