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

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

Separately, HC Wainwright dropped their price objective on shares of CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, May 15th.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $6.35 on Thursday. CASI Pharmaceuticals has a one year low of $1.90 and a one year high of $8.48. The company’s 50-day moving average is $4.25 and its 200 day moving average is $4.39. The company has a market capitalization of $85.09 million, a price-to-earnings ratio of -2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.25 and a current ratio of 5.05.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). The company had revenue of $3.41 million for the quarter. CASI Pharmaceuticals had a negative net margin of 105.76% and a negative return on equity of 110.11%. Sell-side analysts expect that CASI Pharmaceuticals will post -2.56 EPS for the current fiscal year.

Institutional Investors 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 first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter. 22.23% of the stock is owned by institutional investors.

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.