CASI Pharmaceuticals (NASDAQ:CASI) Given Buy Rating at HC Wainwright

CASI Pharmaceuticals (NASDAQ:CASI)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $4.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 106.09% from the company’s current price.

Separately, StockNews.com started coverage on CASI Pharmaceuticals in a research report on Wednesday, May 14th. They set a “hold” rating on the stock.

CASI Pharmaceuticals Price Performance

Shares of CASI stock opened at $1.94 on Monday. The company has a market cap of $23.87 million, a P/E ratio of -0.87 and a beta of 0.81. 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 stock’s 50-day moving average is $2.04 and its 200 day moving average is $2.84. CASI Pharmaceuticals has a 1-year low of $1.64 and a 1-year high of $7.67.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.08). CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%. The firm had revenue of $6.24 million during the quarter, compared to analysts’ expectations of $7.39 million.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. 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.