CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

NASDAQ:CASI opened at $2.68 on Friday. The firm has a market capitalization of $41.51 million, a price-to-earnings ratio of -1.20 and a beta of 0.60. 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 business has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $4.96. CASI Pharmaceuticals has a 1 year low of $2.05 and a 1 year high of $7.67.

Institutional Investors Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its position in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,800 shares of the biotechnology company’s stock after purchasing an additional 4,000 shares during the quarter. Renaissance Technologies LLC owned 0.30% of CASI Pharmaceuticals worth $224,000 as of its most recent SEC filing. 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.