CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Wednesday. The brokerage issued a hold rating on the biotechnology company’s stock.

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

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $1.94 on Wednesday. CASI Pharmaceuticals has a 52-week low of $1.64 and a 52-week high of $7.67. The firm has a fifty day moving average of $2.04 and a 200-day moving average of $2.88. The firm has a market capitalization of $23.87 million, a P/E ratio of -0.87 and a beta of 0.81. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.08). CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%.

Institutional Investors Weigh In On CASI Pharmaceuticals

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 64.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,365 shares of the biotechnology company’s stock after purchasing an additional 64,675 shares during the period. Woodline Partners LP owned approximately 1.34% of CASI Pharmaceuticals worth $355,000 at the end of the most recent reporting period. 22.23% of the stock is owned by institutional investors and hedge funds.

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.