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

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASIFree Report) in a report issued on Wednesday. The brokerage issued a hold rating on the biotechnology company’s stock.

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

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CASI Pharmaceuticals Trading Down 4.7 %

Shares of CASI opened at $6.52 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20. CASI Pharmaceuticals has a twelve month low of $1.90 and a twelve month high of $8.48. The stock has a market capitalization of $87.37 million, a P/E ratio of -2.86 and a beta of 0.68. The firm has a fifty day simple moving average of $3.73 and a two-hundred day simple moving average of $4.43.

CASI Pharmaceuticals (NASDAQ:CASIGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.66). CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. The company had revenue of $3.41 million during the quarter. On average, research analysts anticipate that CASI Pharmaceuticals will post -2.56 EPS for the current year.

Institutional Inflows and Outflows

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

About CASI Pharmaceuticals

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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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