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

StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note published on Monday. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $2.27 on Monday. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $4.44. The company has a market cap of $35.17 million, a price-to-earnings ratio of -1.02 and a beta of 0.60. CASI Pharmaceuticals has a 12-month low of $2.05 and a 12-month high of $7.67.

Institutional Investors 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 CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals makes up about 1.7% of Foresite Capital Management VI LLC’s investment portfolio, making the stock its 13th biggest holding. Foresite Capital Management VI LLC owned 8.58% of CASI Pharmaceuticals at the end of the most recent quarter. 22.23% of the stock is 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.