CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by Analysts at StockNews.com

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

Several other research analysts have also recently issued reports on the company. BTIG Research raised their target price on CASI Pharmaceuticals from $4.00 to $21.00 and gave the stock a buy rating in a research report on Friday, June 3rd. HC Wainwright dropped their target price on CASI Pharmaceuticals from $40.00 to $30.00 in a research report on Friday, May 13th.

CASI Pharmaceuticals Price Performance

CASI Pharmaceuticals stock opened at $2.50 on Tuesday. CASI Pharmaceuticals has a one year low of $2.24 and a one year high of $17.40. The stock has a market capitalization of $34.02 million, a PE ratio of -1.14 and a beta of 0.64. The business’s fifty day moving average is $2.84 and its 200 day moving average is $5.33.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last released its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.40. CASI Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 93.65%. The company had revenue of $9.06 million for the quarter, compared to analysts’ expectations of $9.15 million. During the same period last year, the firm posted ($1.10) earnings per share. As a group, sell-side analysts expect that CASI Pharmaceuticals will post -2.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Citigroup Inc. bought a new stake in CASI Pharmaceuticals during the 1st quarter valued at approximately $59,000. Bailard Inc. raised its stake in CASI Pharmaceuticals by 25.6% during the 2nd quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 6,430 shares during the period. Virtu Financial LLC raised its stake in CASI Pharmaceuticals by 39.6% during the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 31,971 shares during the period. Finally, Wellington Shields & Co. LLC raised its stake in CASI Pharmaceuticals by 27.3% during the 1st quarter. Wellington Shields & Co. LLC now owns 1,453,190 shares of the biotechnology company’s stock valued at $1,177,000 after purchasing an additional 312,000 shares during the period. Institutional investors own 39.51% of the company’s stock.

CASI Pharmaceuticals Company Profile

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CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in 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.

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