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

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

CASI Pharmaceuticals Trading Up 4.3 %

NASDAQ:CASI opened at $2.20 on Thursday. The stock has a fifty day simple moving average of $2.39 and a 200 day simple moving average of $3.93. The firm has a market capitalization of $34.08 million, a price-to-earnings ratio of -0.99 and a beta of 0.41. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. CASI Pharmaceuticals has a 1-year low of $2.04 and a 1-year high of $7.67.

Hedge Funds Weigh In On CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP lifted its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 22.23% of the company’s stock.

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.