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

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

CASI Pharmaceuticals Price Performance

CASI opened at $2.50 on Friday. The firm has a market capitalization of $38.73 million, a PE ratio of -1.12 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The business’s 50-day moving average is $2.75 and its two-hundred day moving average is $4.79. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67.

Institutional Investors Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC acquired a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th largest holding. Foresite Capital Management VI LLC owned approximately 8.58% of CASI Pharmaceuticals at the end of the most recent quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.

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.