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

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

CASI Pharmaceuticals Trading Down 3.7 %

CASI Pharmaceuticals stock opened at $2.33 on Friday. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67. The firm’s 50 day moving average price is $2.64 and its 200-day moving average price is $4.56. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32. The stock has a market cap of $36.10 million, a P/E ratio of -1.04 and a beta of 0.60.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP increased its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the quarter. Woodline Partners LP owned about 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.