CASI Pharmaceuticals (NASDAQ:CASI) Issues Earnings Results

CASI Pharmaceuticals (NASDAQ:CASI) released its quarterly earnings results on Friday. The biotechnology company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.27), Zacks reports. CASI Pharmaceuticals had a negative net margin of 148.55% and a negative return on equity of 972.55%.

CASI Pharmaceuticals Stock Down 5.6%

Shares of CASI stock traded down $0.08 during trading on Friday, reaching $1.26. 19,040 shares of the company’s stock were exchanged, compared to its average volume of 415,927. CASI Pharmaceuticals has a twelve month low of $1.09 and a twelve month high of $5.95. The firm’s fifty day moving average price is $1.70 and its 200-day moving average price is $1.73. The stock has a market capitalization of $15.50 million, a PE ratio of -0.44 and a beta of 0.90.

Institutional Trading of CASI Pharmaceuticals

A hedge fund recently bought a new stake in CASI Pharmaceuticals stock. Two Sigma Investments LP acquired a new stake in CASI Pharmaceuticals Inc. (NASDAQ:CASI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 33,267 shares of the biotechnology company’s stock, valued at approximately $55,000. Two Sigma Investments LP owned approximately 0.27% of CASI Pharmaceuticals at the end of the most recent reporting period. 22.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CASI. Weiss Ratings reiterated a “sell (d-)” rating on shares of CASI Pharmaceuticals in a report on Tuesday, October 14th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of CASI Pharmaceuticals in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.00.

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.