CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Down 2.7 %

CASI opened at $2.57 on Tuesday. CASI Pharmaceuticals has a fifty-two week low of $1.85 and a fifty-two week high of $8.48. The company has a market cap of $34.44 million, a price-to-earnings ratio of -1.27 and a beta of 0.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.55 and a quick ratio of 2.60. The firm has a 50 day simple moving average of $3.23 and a 200 day simple moving average of $4.87.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Thursday, March 28th. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). CASI Pharmaceuticals had a negative net margin of 79.30% and a negative return on equity of 77.55%. The business had revenue of $6.03 million for the quarter, compared to the consensus estimate of $9.40 million.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 0.30% of CASI Pharmaceuticals as of its most recent filing with the SEC. Institutional investors and hedge funds own 22.23% of the company’s stock.

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.