CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note published on Wednesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright cut their price objective on shares of CASI Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th.

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $1.91 on Wednesday. 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 firm has a market cap of $23.49 million, a P/E ratio of -0.86 and a beta of 0.81. The business’s fifty day moving average is $2.05 and its two-hundred day moving average is $2.94. CASI Pharmaceuticals has a 52 week low of $1.64 and a 52 week high of $7.67.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.19). CASI Pharmaceuticals had a negative net margin of 143.18% and a negative return on equity of 181.52%. The company had revenue of $13.36 million for the quarter, compared to the consensus estimate of $7.39 million.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP grew its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the period. 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.