EntreMed (CASI) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

EntreMed (NASDAQ:CASI) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02, MarketWatch Earnings reports.

Shares of EntreMed opened at $7.49 on Thursday, MarketBeat.com reports. The company has a market cap of $686.91 million, a P/E ratio of -41.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 8.66 and a current ratio of 8.66. EntreMed has a 52-week low of $7.75 and a 52-week high of $8.03.

In other EntreMed news, Director Wei-Wu He acquired 3,086,419 shares of the business’s stock in a transaction that occurred on Monday, March 19th. The shares were bought at an average cost of $3.24 per share, with a total value of $9,999,997.56. Following the completion of the acquisition, the director now directly owns 847,527 shares in the company, valued at approximately $2,745,987.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder China Growth Fund Idg-Accel II acquired 3,086,418 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were acquired at an average cost of $3.19 per share, for a total transaction of $9,845,673.42. The disclosure for this purchase can be found here. Company insiders own 24.52% of the company’s stock.

CASI has been the subject of several research analyst reports. ValuEngine downgraded shares of EntreMed from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price target on shares of EntreMed in a research note on Monday, January 29th. Finally, BidaskClub downgraded shares of EntreMed from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th.

About EntreMed

CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.

Earnings History for EntreMed (NASDAQ:CASI)

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