CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Thursday. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Down 2.0 %

NASDAQ:CASI opened at $2.16 on Thursday. CASI Pharmaceuticals has a 12-month low of $2.04 and a 12-month high of $7.67. 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 has a 50 day simple moving average of $2.39 and a 200 day simple moving average of $3.88. The firm has a market capitalization of $33.39 million, a P/E ratio of -0.97 and a beta of 0.41.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP lifted its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the SEC. 22.23% of the stock is owned by institutional investors and hedge funds.

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.