CASI Pharmaceuticals (NASDAQ:CASI) Share Price Crosses Above Two Hundred Day Moving Average of $4.44

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.44 and traded as high as $6.95. CASI Pharmaceuticals shares last traded at $6.65, with a volume of 87,456 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. HC Wainwright lowered their target price on CASI Pharmaceuticals from $12.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. StockNews.com started coverage on shares of CASI Pharmaceuticals in a research note on Saturday. They set a “hold” rating for the company.

CASI Pharmaceuticals Stock Performance

The company has a market capitalization of $89.65 million, a price-to-earnings ratio of -2.93 and a beta of 0.69. The company has a current ratio of 5.05, a quick ratio of 3.25 and a debt-to-equity ratio of 1.20. The firm has a 50-day simple moving average of $4.95 and a two-hundred day simple moving average of $4.44.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.66). CASI Pharmaceuticals had a negative net margin of 105.76% and a negative return on equity of 110.11%. The business had revenue of $3.41 million during the quarter. As a group, sell-side analysts forecast that CASI Pharmaceuticals, Inc. will post -2.56 earnings per share for the current fiscal year.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Howland Capital Management LLC purchased a new stake in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 40,429 shares of the biotechnology company’s stock, valued at approximately $146,000. Howland Capital Management LLC owned about 0.30% of CASI Pharmaceuticals as of its most recent SEC filing. 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.