CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASIFree Report) in a research report sent to investors on Friday morning. The firm issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright increased their price objective on CASI Pharmaceuticals from $10.00 to $12.00 and gave the company a buy rating in a research note on Wednesday, November 15th.

Get Our Latest Stock Analysis on CASI Pharmaceuticals

CASI Pharmaceuticals Price Performance

Shares of NASDAQ:CASI opened at $6.12 on Friday. CASI Pharmaceuticals has a 1 year low of $1.60 and a 1 year high of $8.48. The firm has a market capitalization of $81.52 million and a price-to-earnings ratio of -2.03. The business’s 50 day moving average price is $6.46 and its 200-day moving average price is $4.32.

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

Institutional Trading of CASI Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of CASI. Renaissance Technologies LLC acquired a new stake in shares of CASI Pharmaceuticals in the 3rd quarter worth $27,000. Citigroup Inc. acquired a new stake in shares of CASI Pharmaceuticals in the 1st quarter worth $59,000. Virtu Financial LLC increased its stake in shares of CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 31,971 shares during the last quarter. Finally, Susquehanna International Group LLP increased its stake in shares of CASI Pharmaceuticals by 70.6% in the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 23,758 shares during the last quarter. 14.62% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading

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