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

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note released on Sunday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

NASDAQ CASI opened at $2.47 on Friday. CASI Pharmaceuticals has a 52-week low of $2.05 and a 52-week high of $7.67. The company has a fifty day moving average of $2.67 and a 200-day moving average of $4.62. The company has a market capitalization of $38.33 million, a P/E ratio of -1.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals comprises 1.7% of Foresite Capital Management VI LLC’s portfolio, making the stock its 13th largest position. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.23% of the company’s stock.

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.