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

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Friday morning. The firm issued a hold rating on the biotechnology company’s stock.

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

CASI Pharmaceuticals Stock Down 0.5 %

CASI opened at $6.60 on Friday. CASI Pharmaceuticals has a fifty-two week low of $1.90 and a fifty-two week high of $8.48. The company has a debt-to-equity ratio of 1.20, a current ratio of 5.05 and a quick ratio of 3.25. The firm’s fifty day moving average price is $4.58 and its two-hundred day moving average price is $4.39. The company has a market capitalization of $88.44 million, a P/E ratio of -2.89 and a beta of 0.68.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission. 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.