CASI Pharmaceuticals (NASDAQ:CASI) Shares Pass Above 200 Day Moving Average of $4.57

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.57 and traded as high as $7.45. CASI Pharmaceuticals shares last traded at $7.17, with a volume of 20,165 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on CASI Pharmaceuticals in a report on Saturday, August 3rd. They set a “hold” rating for the company.

CASI Pharmaceuticals Stock Down 0.7 %

The company has a market cap of $110.85 million, a price-to-earnings ratio of -3.14 and a beta of 0.70. The stock has a fifty day moving average price of $6.60 and a two-hundred day moving average price of $4.57. The company has a quick ratio of 2.36, a current ratio of 3.88 and a debt-to-equity ratio of 2.05.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings results on Friday, August 16th. The biotechnology company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. The business had revenue of $3.98 million during the quarter, compared to the consensus estimate of $4.43 million. CASI Pharmaceuticals had a negative return on equity of 126.20% and a negative net margin of 118.81%. As a group, sell-side analysts expect that CASI Pharmaceuticals, Inc. will post -2.56 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing. 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.