CASI Pharmaceuticals (NASDAQ:CASI) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note issued to investors on Saturday. The firm issued a hold rating on the biotechnology company’s stock.

CASI Pharmaceuticals Stock Performance

Shares of CASI stock opened at $2.50 on Friday. The business’s 50 day simple moving average is $2.75 and its 200 day simple moving average is $4.78. CASI Pharmaceuticals has a one year low of $2.05 and a one year high of $7.67. The stock has a market capitalization of $38.73 million, a PE ratio of -1.12 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

An institutional investor recently bought a new position in CASI Pharmaceuticals stock. Foresite Capital Management VI LLC purchased a new position in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,329,383 shares of the biotechnology company’s stock, valued at approximately $3,762,000. CASI Pharmaceuticals makes up 1.7% of Foresite Capital Management VI LLC’s holdings, making the stock its 13th largest holding. Foresite Capital Management VI LLC owned approximately 8.58% of CASI Pharmaceuticals as of its most recent filing with the SEC. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.