CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report issued on Friday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $2.13 on Friday. The company has a fifty day moving average price of $2.35 and a two-hundred day moving average price of $3.76. CASI Pharmaceuticals has a one year low of $1.90 and a one year high of $7.67. The stock has a market cap of $33.00 million, a P/E ratio of -0.96 and a beta of 0.41. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). CASI Pharmaceuticals had a negative net margin of 143.18% and a negative return on equity of 181.52%. The firm had revenue of $13.36 million during the quarter, compared to the consensus estimate of $7.39 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.