CASI Pharmaceuticals, Inc. to Post Q2 2023 Earnings of ($0.50) Per Share, HC Wainwright Forecasts (NASDAQ:CASI)

CASI Pharmaceuticals, Inc. (NASDAQ:CASI – Get Rating) – Equities research analysts at HC Wainwright upped their Q2 2023 earnings estimates for CASI Pharmaceuticals in a report released on Monday, May 22nd. HC Wainwright analyst S. Lee now expects that the biotechnology company will post earnings per share of ($0.50) for the quarter, up from their previous estimate of ($0.61). The consensus estimate for CASI Pharmaceuticals’ current full-year earnings is ($2.24) per share. HC Wainwright also issued estimates for CASI Pharmaceuticals’ Q3 2023 earnings at ($0.50) EPS, Q4 2023 earnings at ($0.35) EPS, FY2023 earnings at ($1.88) EPS and FY2024 earnings at ($0.45) EPS.

Separately, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research report on Sunday. They issued a “hold” rating for the company.

CASI Pharmaceuticals Stock Performance

NASDAQ CASI opened at $2.27 on Wednesday. CASI Pharmaceuticals has a one year low of $1.45 and a one year high of $6.85. The company’s 50 day moving average price is $2.57 and its 200 day moving average price is $2.13. The firm has a market capitalization of $30.19 million and a price-to-earnings ratio of -0.80.

Hedge Funds Weigh In On CASI Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of CASI. Renaissance Technologies LLC bought a new stake in CASI Pharmaceuticals during the 3rd quarter valued at $27,000. Prudential Financial Inc. acquired a new position in shares of CASI Pharmaceuticals during the 3rd quarter valued at $29,000. Susquehanna International Group LLP lifted its holdings in CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 23,758 shares during the last quarter. 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 valued at $91,000 after purchasing an additional 31,971 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in shares of CASI Pharmaceuticals in the 1st quarter worth $59,000. Institutional investors and hedge funds own 14.62% of the company’s stock.

About CASI Pharmaceuticals

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CASI Pharmaceuticals, Inc engages in developing and commercializing therapeutics and pharmaceutical products. The company was founded on January 10, 2023 and is headquartered in Beijing, China.