CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright reduced 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 Stock Performance

CASI Pharmaceuticals stock opened at $1.92 on Friday. The firm has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $3.35. The stock has a market cap of $23.61 million, a price-to-earnings ratio of -0.86 and a beta of 0.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. CASI Pharmaceuticals has a 1-year low of $1.88 and a 1-year high of $7.67.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP boosted its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 22.23% of the stock is owned by institutional investors.

About CASI Pharmaceuticals

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.