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

Analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report issued on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Down 4.9 %

Shares of CASI Pharmaceuticals stock opened at $2.35 on Thursday. The firm has a market cap of $36.40 million, a price-to-earnings ratio of -1.05 and a beta of 0.62. The stock has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $5.11. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. CASI Pharmaceuticals has a 52-week low of $2.05 and a 52-week high of $7.67.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.23% of the company’s stock.

CASI Pharmaceuticals Company Profile

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.