Zacks: Brokerages Anticipate CASI Pharmaceuticals Inc (CASI) Will Announce Earnings of -$0.09 Per Share

Equities research analysts expect CASI Pharmaceuticals Inc (NASDAQ:CASI) to announce earnings of ($0.09) per share for the current quarter, according to Zacks. Zero analysts have provided estimates for CASI Pharmaceuticals’ earnings. CASI Pharmaceuticals reported earnings of ($0.07) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 28.6%. The business is expected to issue its next quarterly earnings results on Tuesday, August 13th.

On average, analysts expect that CASI Pharmaceuticals will report full-year earnings of ($0.28) per share for the current year, with EPS estimates ranging from ($0.37) to ($0.17). For the next year, analysts expect that the company will post earnings of ($0.17) per share, with EPS estimates ranging from ($0.30) to ($0.03). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow CASI Pharmaceuticals.

CASI Pharmaceuticals (NASDAQ:CASI) last released its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09).

Several equities analysts have weighed in on the company. BidaskClub raised CASI Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of CASI Pharmaceuticals in a research note on Thursday, May 16th.

NASDAQ:CASI opened at $3.19 on Friday. CASI Pharmaceuticals has a fifty-two week low of $2.73 and a fifty-two week high of $8.89.

Large investors have recently added to or reduced their stakes in the business. Heritage Investors Management Corp purchased a new position in CASI Pharmaceuticals during the 1st quarter valued at about $29,000. BNP Paribas Arbitrage SA purchased a new position in CASI Pharmaceuticals during the 1st quarter valued at about $30,000. Marshall Wace LLP purchased a new position in CASI Pharmaceuticals during the 1st quarter valued at about $44,000. Metropolitan Life Insurance Co. NY grew its stake in CASI Pharmaceuticals by 365.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 18,946 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 14,876 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in CASI Pharmaceuticals by 21.1% during the 1st quarter. IHT Wealth Management LLC now owns 28,725 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 5,000 shares in the last quarter. 11.99% of the stock is currently owned by institutional investors.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc, a pharmaceutical company, develops pharmaceutical products and various therapeutics in China, the United States, and internationally. The company's product pipeline includes EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

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