StockNews.com Begins Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

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

Separately, HC Wainwright lowered their target price on shares of CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating on the stock in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Stock Performance

Shares of CASI opened at $3.80 on Monday. The company’s fifty day moving average is $3.01 and its 200-day moving average is $4.54. CASI Pharmaceuticals has a 12 month low of $1.90 and a 12 month high of $8.48. The firm has a market cap of $50.92 million, a price-to-earnings ratio of -1.67 and a beta of 0.61. The company has a quick ratio of 3.25, a current ratio of 5.05 and a debt-to-equity ratio of 1.20.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) EPS for the quarter, missing the consensus estimate 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. Equities analysts expect that CASI Pharmaceuticals will post -2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC bought a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the first quarter, according to 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 about 0.30% of CASI Pharmaceuticals at the end of the most recent quarter. 22.23% of the stock is owned by institutional investors.

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.