CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by StockNews.com

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

CASI Pharmaceuticals Stock Performance

NASDAQ CASI opened at $2.64 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.55 and a quick ratio of 2.60. CASI Pharmaceuticals has a 1-year low of $1.85 and a 1-year high of $8.48. The business has a 50 day simple moving average of $3.29 and a two-hundred day simple moving average of $4.89. The stock has a market capitalization of $35.38 million, a PE ratio of -1.31 and a beta of 0.41.

CASI Pharmaceuticals (NASDAQ:CASI) last posted 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 net margin of 79.30% and a negative return on equity of 77.55%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned about 0.30% of CASI Pharmaceuticals at the end of the most recent reporting period. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.