StockNews.com Initiates Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

Stock analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

CASI stock opened at $2.47 on Thursday. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The firm has a market capitalization of $38.26 million, a PE ratio of -1.11 and a beta of 0.62. The business has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $5.07.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC lifted its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the quarter. Renaissance Technologies LLC owned about 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent reporting period. 22.23% of the stock is currently owned by institutional investors.

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.