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

Investment analysts at StockNews.com started coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Trading Down 1.2 %

Shares of CASI stock opened at $2.42 on Friday. CASI Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $7.67. The firm’s 50-day simple moving average is $2.66 and its 200-day simple moving average is $4.59. The firm has a market cap of $37.49 million, a P/E ratio of -1.09 and a beta of 0.60. The company has a debt-to-equity ratio of 1.38, a current ratio of 3.20 and a quick ratio of 2.32.

Hedge Funds Weigh In On CASI Pharmaceuticals

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP boosted its stake in CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,690 shares of the biotechnology company’s stock after acquiring an additional 69,158 shares during the period. Woodline Partners LP owned 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent reporting period. 22.23% of the stock is currently owned by institutional investors.

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.