CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated at StockNews.com

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

Separately, HC Wainwright reduced their price target on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th.

CASI Pharmaceuticals Stock Performance

NASDAQ:CASI opened at $6.36 on Wednesday. The stock has a market cap of $85.22 million, a P/E ratio of -2.79 and a beta of 0.68. 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 stock’s 50-day moving average is $3.81 and its 200-day moving average is $4.45. CASI Pharmaceuticals has a 1-year low of $1.90 and a 1-year high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.66). The firm 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%. Equities research analysts anticipate that CASI Pharmaceuticals will post -2.56 earnings per share for the current year.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned 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.

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.