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

Investment analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI – Get Rating) in a research note issued on Saturday. The firm set a “hold” rating on the biotechnology company’s stock.

Several other research firms have also issued reports on CASI. HC Wainwright dropped their price objective on CASI Pharmaceuticals from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. BTIG Research dropped their price objective on CASI Pharmaceuticals from $21.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, November 16th.

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $1.99 on Friday. CASI Pharmaceuticals has a one year low of $1.45 and a one year high of $10.30. The business has a fifty day moving average price of $1.86 and a 200-day moving average price of $2.53. The firm has a market capitalization of $27.08 million, a P/E ratio of -1.03 and a beta of 0.39.

CASI Pharmaceuticals (NASDAQ:CASI – Get Rating) last posted its quarterly earnings results on Monday, November 14th. The biotechnology company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.13. The firm had revenue of $10.21 million during the quarter, compared to analyst estimates of $10.40 million. CASI Pharmaceuticals had a negative return on equity of 37.59% and a negative net margin of 73.17%. Sell-side analysts expect that CASI Pharmaceuticals will post -2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CASI Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CASI. Citigroup Inc. bought a new stake in CASI Pharmaceuticals during the first quarter worth about $59,000. Virtu Financial LLC lifted its stake in CASI Pharmaceuticals by 39.6% during the first quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 31,971 shares during the last quarter. Prudential Financial Inc. bought a new stake in CASI Pharmaceuticals during the third quarter worth about $29,000. Renaissance Technologies LLC bought a new stake in CASI Pharmaceuticals during the third quarter worth about $27,000. Finally, Bailard Inc. lifted its stake in CASI Pharmaceuticals by 25.6% during the second quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 6,430 shares during the last quarter. Institutional investors own 14.62% of the company’s stock.

About CASI Pharmaceuticals

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CASI Pharmaceuticals, Inc is a biopharmaceutical company, which is focused on the acquisition, development and commercialization of therapeutics addressing cancer and other unmet medical needs. The company develops and commercializes the oncology drugs and drug candidates in China, Taiwan, Hong Kong, and Macau.