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

Equities research analysts at StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI Pharmaceuticals stock traded down $0.09 on Tuesday, reaching $2.66. 2,400 shares of the company traded hands, compared to its average volume of 153,450. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.55 and a quick ratio of 2.60. The firm has a market capitalization of $35.64 million, a PE ratio of -1.32 and a beta of 0.41. The company has a 50 day moving average of $3.35 and a 200 day moving average of $4.90. CASI Pharmaceuticals has a 52 week low of $1.85 and a 52 week high of $8.48.

CASI Pharmaceuticals (NASDAQ:CASI) last released its earnings results on Thursday, March 28th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). CASI Pharmaceuticals had a negative return on equity of 77.55% and a negative net margin of 79.30%. The firm had revenue of $6.03 million during the quarter, compared to analysts’ expectations of $9.40 million.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC acquired a new stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) in the first quarter, according to its most recent filing with the SEC. The fund acquired 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned approximately 0.30% of CASI Pharmaceuticals at the end of the most recent quarter. 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.