CASI Pharmaceuticals (CASI) to Release Quarterly Earnings on Monday

CASI Pharmaceuticals (NASDAQ:CASI) is expected to be releasing its results before the market opens on Monday, March 30th. Analysts expect CASI Pharmaceuticals to post earnings of ($0.36) per share for the quarter.

CASI Pharmaceuticals Stock Performance

CASI stock opened at $0.21 on Friday. The stock’s 50 day simple moving average is $0.58 and its 200 day simple moving average is $1.07. CASI Pharmaceuticals has a 12-month low of $0.21 and a 12-month high of $3.09. The firm has a market cap of $2.55 million, a P/E ratio of -0.07 and a beta of 0.91.

Institutional Trading of CASI Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in CASI Pharmaceuticals by 2,013.3% during the 3rd quarter. Bank of America Corp DE now owns 254,884 shares of the biotechnology company’s stock valued at $423,000 after purchasing an additional 242,823 shares during the period. Woodline Partners LP increased its position in CASI Pharmaceuticals by 64.9% in the first quarter. Woodline Partners LP now owns 164,365 shares of the biotechnology company’s stock worth $355,000 after buying an additional 64,675 shares during the period. Finally, Two Sigma Investments LP bought a new stake in CASI Pharmaceuticals in the third quarter valued at $55,000. Institutional investors own 22.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of CASI Pharmaceuticals in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CASI Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $4.00.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of innovative therapies in oncology and immunology. The company leverages a combination of small‐molecule targeted drugs and biologics to address high‐unmet medical needs in cancer and autoimmune diseases. CASI’s R&D efforts emphasize the discovery and advancement of compounds that modulate key signaling pathways, with a goal of delivering differentiated treatment options to patients worldwide.

The company’s lead clinical candidate is famitinib, a multi‐targeted tyrosine kinase inhibitor that has been evaluated in various solid tumors, including gastric, breast and renal cancers.