CASI Pharmaceuticals (CASI) Projected to Post Quarterly Earnings on Wednesday

CASI Pharmaceuticals (NASDAQ:CASI) will likely be announcing its resultson Wednesday, April 29th. Analysts expect the company to announce earnings of ($0.36) per share for the quarter.

CASI Pharmaceuticals Price Performance

Shares of NASDAQ:CASI opened at $0.21 on Wednesday. The company’s fifty day moving average price is $0.33 and its 200-day moving average price is $0.87. The firm has a market capitalization of $2.55 million, a price-to-earnings ratio of -0.07 and a beta of 0.91. CASI Pharmaceuticals has a one year low of $0.21 and a one year high of $3.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CASI Pharmaceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, CASI Pharmaceuticals has an average rating of “Hold” and an average target price of $4.00.

Hedge Funds Weigh In On CASI Pharmaceuticals

A number of large investors have recently modified their holdings of CASI. Two Sigma Investments LP bought a new stake in CASI Pharmaceuticals in the 3rd quarter worth approximately $55,000. Woodline Partners LP grew its position in CASI Pharmaceuticals by 64.9% during the first quarter. Woodline Partners LP now owns 164,365 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 64,675 shares during the last quarter. Finally, Bank of America Corp DE grew its position in CASI Pharmaceuticals by 2,013.3% during the third quarter. Bank of America Corp DE now owns 254,884 shares of the biotechnology company’s stock valued at $423,000 after acquiring an additional 242,823 shares during the last quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.

CASI Pharmaceuticals Company Profile

CASI Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of innovative therapies in oncology and immunology. The company leverages a combination of small‐molecule targeted drugs and biologics to address high‐unmet medical needs in cancer and autoimmune diseases. CASI’s R&D efforts emphasize the discovery and advancement of compounds that modulate key signaling pathways, with a goal of delivering differentiated treatment options to patients worldwide.

The company’s lead clinical candidate is famitinib, a multi‐targeted tyrosine kinase inhibitor that has been evaluated in various solid tumors, including gastric, breast and renal cancers.