CASI Pharmaceuticals (NASDAQ:CASI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright lowered their price objective on CASI Pharmaceuticals from $12.00 to $6.00 and set a buy rating on the stock in a research note on Wednesday, May 15th.

CASI Pharmaceuticals Stock Performance

NASDAQ:CASI opened at $3.55 on Thursday. CASI Pharmaceuticals has a twelve month low of $1.85 and a twelve month high of $8.48. The company has a market cap of $47.52 million, a P/E ratio of -1.56 and a beta of 0.41. The company has a current ratio of 5.05, a quick ratio of 3.25 and a debt-to-equity ratio of 1.20. The company’s 50-day moving average price is $2.89 and its 200-day moving average price is $4.82.

CASI Pharmaceuticals (NASDAQ:CASI) last released its earnings results on Thursday, March 28th. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). The business had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $9.40 million. CASI Pharmaceuticals had a negative return on equity of 110.11% and a negative net margin of 105.76%. On average, sell-side analysts forecast that CASI Pharmaceuticals will post -2.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CASI Pharmaceuticals

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

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.