HC Wainwright Cuts CASI Pharmaceuticals (NASDAQ:CASI) Price Target to $4.00

CASI Pharmaceuticals (NASDAQ:CASI) had its target price decreased by HC Wainwright from $6.00 to $4.00 in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for CASI Pharmaceuticals’ Q1 2025 earnings at ($0.61) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.28) EPS, FY2025 earnings at ($2.07) EPS, FY2026 earnings at ($1.09) EPS, FY2027 earnings at ($1.08) EPS, FY2028 earnings at ($1.15) EPS and FY2029 earnings at ($1.03) EPS.

Separately, StockNews.com began coverage on CASI Pharmaceuticals in a research report on Friday, April 4th. They issued a “hold” rating on the stock.

CASI Pharmaceuticals Stock Up 4.7 %

CASI Pharmaceuticals stock opened at $2.00 on Wednesday. The firm has a market capitalization of $24.60 million, a price-to-earnings ratio of -0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. CASI Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $7.67. The stock’s fifty day moving average is $2.27 and its two-hundred day moving average is $3.52.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $13.36 million during the quarter, compared to analysts’ expectations of $7.39 million.

Institutional Inflows and Outflows

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