StockNews.com Begins Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

Research analysts at StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report released on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Up 0.6 %

Shares of CASI opened at $2.47 on Friday. The firm has a market capitalization of $38.33 million, a price-to-earnings ratio of -1.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The business’s fifty day moving average price is $2.67 and its two-hundred day moving average price is $4.63. CASI Pharmaceuticals has a 52 week low of $2.05 and a 52 week high of $7.67.

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP grew its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned about 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. 22.23% of the stock is currently owned by 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.