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

StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright lowered their price objective on CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Stock Up 36.7 %

Shares of NASDAQ CASI opened at $4.90 on Monday. The company has a current ratio of 5.05, a quick ratio of 3.25 and a debt-to-equity ratio of 1.20. The company has a market cap of $65.66 million, a price-to-earnings ratio of -2.15 and a beta of 0.61. CASI Pharmaceuticals has a 12 month low of $1.90 and a 12 month high of $8.48. The stock has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $4.51.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.66). The business had revenue of $3.41 million for the quarter. CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. As a group, analysts forecast that CASI Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the first quarter, according to its most recent filing with the SEC. The firm bought 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals as of its most recent SEC filing. 22.23% of the stock is currently 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.