CASI Pharmaceuticals (NASDAQ:CASI) Posts Earnings Results, Misses Estimates By $0.19 EPS

CASI Pharmaceuticals (NASDAQ:CASI) released its quarterly earnings results on Monday. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.19), Zacks reports. CASI Pharmaceuticals had a negative return on equity of 181.52% and a negative net margin of 143.18%. The firm had revenue of $13.36 million for the quarter, compared to analyst estimates of $7.39 million.

CASI Pharmaceuticals Trading Up 3.7 %

Shares of CASI stock opened at $2.24 on Wednesday. The stock has a market cap of $34.69 million, a P/E ratio of -0.99 and a beta of 0.41. CASI Pharmaceuticals has a 1 year low of $2.04 and a 1 year high of $7.67. The company has a current ratio of 3.20, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $3.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on CASI Pharmaceuticals in a report on Thursday, March 27th. They set a “hold” rating for the company.

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.