CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI opened at $2.57 on Tuesday. CASI Pharmaceuticals has a one year low of $1.85 and a one year high of $8.48. The company has a market cap of $34.44 million, a PE ratio of -1.27 and a beta of 0.41. The stock has a 50-day moving average of $3.23 and a 200-day moving average of $4.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.55 and a quick ratio of 2.60.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Thursday, March 28th. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). CASI Pharmaceuticals had a negative net margin of 79.30% and a negative return on equity of 77.55%. The firm had revenue of $6.03 million during the quarter, compared to analyst estimates of $9.40 million.

Hedge Funds Weigh In On CASI Pharmaceuticals

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

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.