StockNews.com Begins Coverage on CASI Pharmaceuticals (NASDAQ:CASI)

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

CASI Pharmaceuticals Stock Down 3.7 %

Shares of NASDAQ CASI opened at $2.33 on Friday. CASI Pharmaceuticals has a 12-month low of $2.05 and a 12-month high of $7.67. The stock’s fifty day simple moving average is $2.64 and its two-hundred day simple moving average is $4.56. The stock has a market capitalization of $36.10 million, a PE ratio of -1.04 and a beta of 0.60. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP raised its position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,690 shares of the biotechnology company’s stock after buying an additional 69,158 shares during the quarter. Woodline Partners LP owned about 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. 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.