CASI Pharmaceuticals (NASDAQ:CASI) Share Price Passes Above Two Hundred Day Moving Average of $4.24

CASI Pharmaceuticals, Inc. (NASDAQ:CASIGet Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.24 and traded as high as $6.30. CASI Pharmaceuticals shares last traded at $6.25, with a volume of 5,019 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. HC Wainwright increased their price objective on CASI Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. StockNews.com started coverage on CASI Pharmaceuticals in a research note on Friday. They set a “hold” rating on the stock.

Get Our Latest Stock Report on CASI

CASI Pharmaceuticals Stock Up 1.1 %

The business’s fifty day moving average is $6.45 and its two-hundred day moving average is $4.24. The stock has a market cap of $83.25 million and a price-to-earnings ratio of -2.08.

CASI Pharmaceuticals (NASDAQ:CASIGet Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The biotechnology company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.21. The business had revenue of $8.84 million during the quarter, compared to the consensus estimate of $10.40 million. CASI Pharmaceuticals had a negative net margin of 95.24% and a negative return on equity of 110.90%. As a group, sell-side analysts expect that CASI Pharmaceuticals, Inc. will post -1.93 earnings per share for the current year.

Institutional Trading of CASI Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in CASI Pharmaceuticals during the 3rd quarter worth approximately $27,000. Citigroup Inc. purchased a new stake in shares of CASI Pharmaceuticals during the 1st quarter worth $59,000. Virtu Financial LLC grew its stake in shares of 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 in the last quarter. Finally, Susquehanna International Group LLP increased its holdings in CASI Pharmaceuticals by 70.6% in the fourth quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 23,758 shares during the last quarter. 14.62% of the stock is currently owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile

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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.

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