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

StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Friday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

CASI Pharmaceuticals stock opened at $2.09 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. CASI Pharmaceuticals has a 1-year low of $1.90 and a 1-year high of $7.67. The stock has a market cap of $32.38 million, a price-to-earnings ratio of -0.94 and a beta of 0.41. The firm has a 50 day simple moving average of $2.34 and a 200-day simple moving average of $3.70.

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

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 stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals makes up about 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest position. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals at the end of the most recent reporting period. 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.