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

Stock analysts at StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Up 5.1 %

CASI opened at $2.68 on Friday. The firm’s 50 day simple moving average is $2.88 and its two-hundred day simple moving average is $4.96. The company has a market capitalization of $41.51 million, a PE ratio of -1.20 and a beta of 0.60. CASI Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $7.67. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC grew its stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,800 shares of the biotechnology company’s stock after buying an additional 4,000 shares during the period. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 22.23% of the company’s stock.

CASI Pharmaceuticals Company Profile

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.