CASI Pharmaceuticals, Inc. (NASDAQ:CASI) has been given a $4.00 price objective by stock analysts at Maxim Group in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective indicates a potential upside of 47.06% from the stock’s current price.
The analysts wrote, “CASI Pharmaceuticals reported 3Q17 with a net loss of $1.6M and ended the period with $21.6M in cash. The company completed an equity financing in October, raising $23.8M. Combined, we estimate CASI currently has $44M on the balance sheet, sufficient runway into 2020. Our model has been adjusted accordingly. As we had already factored in future capital raises, the net effect is our price target of $4 remains unchanged.””
Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $2.00 price target on shares of CASI Pharmaceuticals in a research note on Friday, September 8th. ValuEngine upgraded shares of CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 15th.
CASI Pharmaceuticals (NASDAQ:CASI) last announced its earnings results on Monday, August 14th. The biotechnology company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). research analysts predict that CASI Pharmaceuticals will post -0.15 earnings per share for the current year.
In related news, Director Wei-Wu He acquired 207,502 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were bought at an average cost of $1.75 per share, with a total value of $363,128.50. Following the completion of the transaction, the director now directly owns 513,525 shares of the company’s stock, valued at $898,668.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders acquired 996,329 shares of company stock valued at $1,647,138. Corporate insiders own 13.01% of the company’s stock.
CASI Pharmaceuticals Company Profile
CASI Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. It operates through the development of targeted therapeutics for the treatment of cancer segment. Its product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, and early-stage candidates in preclinical development.
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