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

Equities researchers at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright lowered their price target on 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 Price Performance

CASI opened at $5.40 on Tuesday. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $72.36 million, a P/E ratio of -2.37 and a beta of 0.68. The stock has a fifty day moving average of $3.24 and a 200-day moving average of $4.45. CASI Pharmaceuticals has a 12-month low of $1.90 and a 12-month high of $8.48.

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

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 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. 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.