CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Sunday. The firm issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright cut their price objective on shares of CASI Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th.

CASI Pharmaceuticals Trading Up 4.7 %

CASI stock opened at $2.02 on Friday. The company has a market cap of $24.84 million, a price-to-earnings ratio of -0.91 and a beta of 0.66. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $2.22 and a 200-day simple moving average of $3.38. CASI Pharmaceuticals has a 52 week low of $1.88 and a 52 week high of $7.67.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.19). The business had revenue of $13.36 million during the quarter, compared to analyst estimates of $7.39 million. CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP grew its stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent SEC filing. 22.23% of the stock is 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.