CASI Pharmaceuticals (NASDAQ:CASI) Coverage Initiated by Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a report issued on Wednesday. The firm set a “hold” rating on the biotechnology company’s stock.

CASI Pharmaceuticals Price Performance

CASI stock opened at $2.27 on Wednesday. CASI Pharmaceuticals has a 1 year low of $2.04 and a 1 year high of $7.67. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.32 and a current ratio of 3.20. The stock’s 50 day moving average price is $2.43 and its 200 day moving average price is $4.09. The firm has a market cap of $35.23 million, a P/E ratio of -1.02 and a beta of 0.41.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Woodline Partners LP grew its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 226.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,690 shares of the biotechnology company’s stock after purchasing an additional 69,158 shares during the quarter. Woodline Partners LP owned approximately 0.64% of CASI Pharmaceuticals worth $282,000 at the end of the most recent quarter. 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.