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

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASIGet Rating) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI has been the subject of several other reports. HC Wainwright lowered their price target on CASI Pharmaceuticals from $40.00 to $30.00 in a research report on Friday, May 13th. BTIG Research lifted their target price on CASI Pharmaceuticals from $4.00 to $21.00 and gave the company a buy rating in a report on Friday, June 3rd.

CASI Pharmaceuticals Price Performance

Shares of CASI Pharmaceuticals stock opened at $2.50 on Tuesday. The business has a 50 day simple moving average of $2.84 and a two-hundred day simple moving average of $5.33. CASI Pharmaceuticals has a 12 month low of $2.24 and a 12 month high of $17.40. The stock has a market capitalization of $34.02 million, a P/E ratio of -1.14 and a beta of 0.64.

CASI Pharmaceuticals (NASDAQ:CASIGet Rating) last posted its quarterly earnings results on Thursday, May 12th. The biotechnology company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.40. CASI Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 93.65%. The firm had revenue of $9.06 million during the quarter, compared to analysts’ expectations of $9.15 million. During the same quarter last year, the firm earned ($1.10) earnings per share. As a group, research analysts anticipate that CASI Pharmaceuticals will post -2.15 EPS for the current fiscal year.

Institutional Trading of CASI Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of CASI. Citigroup Inc. acquired a new stake in shares of CASI Pharmaceuticals during the first quarter worth about $59,000. Bailard Inc. increased its position in shares of CASI Pharmaceuticals by 25.6% during the second quarter. Bailard Inc. now owns 31,530 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 6,430 shares in the last quarter. Virtu Financial LLC increased its position in CASI Pharmaceuticals by 39.6% in the 1st quarter. Virtu Financial LLC now owns 112,777 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 31,971 shares during the period. Finally, Wellington Shields & Co. LLC increased its position in CASI Pharmaceuticals by 27.3% in the 1st quarter. Wellington Shields & Co. LLC now owns 1,453,190 shares of the biotechnology company’s stock valued at $1,177,000 after acquiring an additional 312,000 shares during the period. 39.51% of the stock is currently owned by institutional investors and hedge funds.

About CASI Pharmaceuticals

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CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in 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.

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