CASI Pharmaceuticals (NASDAQ:CASI) Receives New Coverage from Analysts at StockNews.com

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

Separately, HC Wainwright reduced their target price on CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Stock Down 6.1 %

NASDAQ:CASI opened at $3.25 on Thursday. The firm has a market capitalization of $43.55 million, a price-to-earnings ratio of -1.43 and a beta of 0.41. CASI Pharmaceuticals has a twelve month low of $1.85 and a twelve month high of $8.48. The stock’s 50 day moving average price is $2.88 and its two-hundred day moving average price is $4.82. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20.

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 return on equity of 110.11% and a negative net margin of 105.76%. The business had revenue of $6.03 million for the quarter, compared to the consensus estimate of $9.40 million. Equities research analysts expect that CASI Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 0.30% of CASI Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 22.23% of the company’s stock.

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.