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

Analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report issued on Monday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ:CASI opened at $2.28 on Monday. The stock has a market capitalization of $35.32 million, a P/E 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. The stock’s 50-day moving average price is $2.61 and its 200-day moving average price is $4.44. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38.

Institutional Inflows and Outflows

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

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.