CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report report published on Thursday. The brokerage issued a hold rating on the biotechnology company’s stock.

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

CASI Pharmaceuticals Price Performance

Shares of NASDAQ:CASI opened at $3.55 on Thursday. The company’s fifty day moving average price is $2.89 and its 200-day moving average price is $4.82. The firm has a market capitalization of $47.52 million, a price-to-earnings ratio of -1.56 and a beta of 0.41. CASI Pharmaceuticals has a one year low of $1.85 and a one year 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.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its earnings results on Thursday, March 28th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The company had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $9.40 million. CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. On average, equities research analysts anticipate that CASI Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

Institutional Investors 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 the company in 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 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.