EntreMed (CASI) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of EntreMed (NASDAQ:CASI) from a hold rating to a buy rating in a research note published on Wednesday.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $4.50 price objective on shares of EntreMed in a research report on Monday, January 29th. ValuEngine raised shares of EntreMed from a hold rating to a buy rating in a research report on Monday, April 2nd.

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Shares of EntreMed stock opened at $7.01 on Wednesday. EntreMed has a 52 week low of $0.91 and a 52 week high of $7.59.

EntreMed (NASDAQ:CASI) last announced its quarterly earnings data on Thursday, March 29th. The biotechnology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.06). equities analysts expect that EntreMed will post -0.13 EPS for the current fiscal year.

In other EntreMed news, Director Wei-Wu He purchased 3,086,419 shares of EntreMed stock in a transaction on Monday, March 19th. The stock was bought at an average cost of $3.24 per share, with a total value of $9,999,997.56. Following the transaction, the director now owns 847,527 shares of the company’s stock, valued at approximately $2,745,987.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder China Growth Fund Idg-Accel II purchased 3,086,418 shares of EntreMed stock in a transaction on Wednesday, March 21st. The shares were acquired at an average cost of $3.19 per share, with a total value of $9,845,673.42. The disclosure for this purchase can be found here. Company insiders own 24.52% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in EntreMed during the 4th quarter worth approximately $137,000. Perceptive Advisors LLC purchased a new position in EntreMed during the 4th quarter worth approximately $272,000. Renaissance Technologies LLC raised its position in EntreMed by 33.4% during the 4th quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock worth $489,000 after buying an additional 37,700 shares during the last quarter. Geode Capital Management LLC raised its position in EntreMed by 488.7% during the 4th quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock worth $733,000 after buying an additional 187,263 shares during the last quarter. Finally, BlackRock Inc. raised its position in EntreMed by 32.6% during the 4th quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock worth $1,254,000 after buying an additional 94,984 shares during the last quarter. 5.11% of the stock is owned by institutional investors.

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EntreMed Company Profile

CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.

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