HC Wainwright Weighs in on CASI Pharmaceuticals, Inc.’s Q2 2023 Earnings (NASDAQ:CASI)

CASI Pharmaceuticals, Inc. (NASDAQ:CASI – Get Rating) – Investment analysts at HC Wainwright lifted their Q2 2023 EPS estimates for shares of CASI Pharmaceuticals in a report released on Monday, May 22nd. HC Wainwright analyst S. Lee now forecasts that the biotechnology company will post earnings per share of ($0.50) for the quarter, up from their previous estimate of ($0.61). The consensus estimate for CASI Pharmaceuticals’ current full-year earnings is ($1.88) per share. HC Wainwright also issued estimates for CASI Pharmaceuticals’ Q3 2023 earnings at ($0.50) EPS, Q4 2023 earnings at ($0.35) EPS, FY2023 earnings at ($1.88) EPS and FY2024 earnings at ($0.45) EPS.

Separately, StockNews.com initiated coverage on shares of CASI Pharmaceuticals in a research note on Sunday, May 21st. They issued a “hold” rating on the stock.

CASI Pharmaceuticals Trading Up 12.1 %

Shares of NASDAQ CASI opened at $2.54 on Wednesday. The firm has a market capitalization of $33.83 million and a PE ratio of -0.90. CASI Pharmaceuticals has a 1 year low of $1.45 and a 1 year high of $6.85. The firm’s 50-day moving average is $2.59 and its 200-day moving average is $2.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wellington Shields Capital Management LLC bought a new position in CASI Pharmaceuticals during the 1st quarter worth approximately $418,000. Wellington Shields & Co. LLC bought a new position in CASI Pharmaceuticals during the 1st quarter worth approximately $323,000. Susquehanna International Group LLP boosted its stake in CASI Pharmaceuticals by 70.6% during the 4th quarter. Susquehanna International Group LLP now owns 57,395 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 23,758 shares during the last quarter. Renaissance Technologies LLC bought a new position in CASI Pharmaceuticals during the 3rd quarter worth approximately $27,000. Finally, Prudential Financial Inc. bought a new position in CASI Pharmaceuticals during the 3rd quarter worth approximately $29,000. Institutional investors own 14.62% of the company’s stock.

CASI Pharmaceuticals Company Profile

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CASI Pharmaceuticals, Inc engages in developing and commercializing therapeutics and pharmaceutical products. The company was founded on January 10, 2023 and is headquartered in Beijing, China.