CASI Pharmaceuticals (NASDAQ:CASI) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report report published on Friday. The brokerage issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI opened at $2.09 on Friday. CASI Pharmaceuticals has a 52 week low of $1.90 and a 52 week high of $7.67. The company has a quick ratio of 2.32, a current ratio of 3.20 and a debt-to-equity ratio of 1.38. The stock has a market cap of $25.70 million, a price-to-earnings ratio of -0.94 and a beta of 0.66. The business has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $3.68.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings results on Monday, March 31st. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.19). The firm had revenue of $13.36 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

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC acquired a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 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 holdings, making the stock its 13th biggest position. Foresite Capital Management VI LLC owned about 8.58% of CASI Pharmaceuticals as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.