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 Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Up 7.5 %

Shares of CASI Pharmaceuticals stock opened at $2.43 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. CASI Pharmaceuticals has a 12-month low of $2.04 and a 12-month high of $7.67. The company has a market capitalization of $37.65 million, a price-to-earnings ratio of -1.09 and a beta of 0.41. The firm’s 50-day moving average price is $2.46 and its two-hundred day moving average price is $4.11.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP grew its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.