HC Wainwright Reiterates “Buy” Rating for CASI Pharmaceuticals (NASDAQ:CASI)

HC Wainwright restated their buy rating on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a $4.00 price objective on the biotechnology company’s stock.

Separately, StockNews.com began coverage on CASI Pharmaceuticals in a research report on Wednesday, May 14th. They issued a “hold” rating on the stock.

CASI Pharmaceuticals Trading Down 1.7%

Shares of NASDAQ CASI opened at $1.91 on Monday. The company has a market cap of $23.46 million, a price-to-earnings ratio of -0.86 and a beta of 0.81. CASI Pharmaceuticals has a 12-month low of $1.64 and a 12-month high of $7.67. 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’s 50 day simple moving average is $2.04 and its 200 day simple moving average is $2.81.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.08). The company had revenue of $6.24 million during the quarter, compared to the consensus estimate of $7.39 million. CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%.

Institutional Trading of CASI Pharmaceuticals

An institutional investor recently raised its position in CASI Pharmaceuticals stock. Woodline Partners LP boosted its holdings in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the quarter. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 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.