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

Research analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

Separately, HC Wainwright lowered their price objective on shares of CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th.

CASI Pharmaceuticals Price Performance

CASI opened at $5.40 on Tuesday. The business has a fifty day moving average of $3.24 and a 200 day moving average of $4.45. The stock has a market cap of $72.36 million, a P/E ratio of -2.37 and a beta of 0.68. 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 has a 52-week low of $1.90 and a 52-week high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). The company had revenue of $3.41 million for the quarter. CASI Pharmaceuticals had a negative net margin of 105.76% and a negative return on equity of 110.11%. As a group, sell-side analysts anticipate that CASI Pharmaceuticals will post -2.56 EPS for the current year.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 22.23% of the company’s stock.

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.