HC Wainwright reiterated their buy rating on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. They currently have a $7.00 target price on the biotechnology company’s stock.

“We maintain our Buy rating of CASI and our 12-month price target of $7.00 per share. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying an 8x multiple to our 2025 sales estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) clinical; (2) regulatory; (3) financial; and (4) intellectual property.”,” HC Wainwright’s analyst commented.

Separately, BidaskClub lowered shares of CASI Pharmaceuticals from a sell rating to a strong sell rating in a research note on Friday, January 25th.

Shares of CASI opened at $3.15 on Thursday. The stock has a market cap of $301.51 million, a PE ratio of -9.84 and a beta of 1.19. CASI Pharmaceuticals has a 1-year low of $2.73 and a 1-year high of $8.89.

CASI Pharmaceuticals (NASDAQ:CASI) last announced its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). On average, sell-side analysts forecast that CASI Pharmaceuticals will post -0.27 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its stake in CASI Pharmaceuticals by 63.4% during the fourth quarter. Meeder Asset Management Inc. now owns 9,579 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 3,716 shares in the last quarter. Heritage Investors Management Corp bought a new stake in CASI Pharmaceuticals during the first quarter worth about $29,000. BNP Paribas Arbitrage SA bought a new stake in CASI Pharmaceuticals during the first quarter worth about $30,000. Marshall Wace LLP bought a new stake in CASI Pharmaceuticals during the first quarter worth about $44,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in CASI Pharmaceuticals by 365.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,946 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 14,876 shares in the last quarter. 11.88% of the stock is currently owned by institutional investors and hedge funds.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a pharmaceutical company, develops pharmaceutical products and various therapeutics in China, the United States, and internationally. The company's product pipeline includes EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

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