Zacks: CASI Pharmaceuticals Inc (NASDAQ:CASI) Receives Consensus Rating of “Strong Buy” from Analysts
CASI Pharmaceuticals Inc (NASDAQ:CASI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a twelve-month consensus price objective of $7.59 for the company and are expecting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given CASI Pharmaceuticals an industry rank of 75 out of 256 based on the ratings given to related companies.
A number of equities research analysts have weighed in on CASI shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of CASI Pharmaceuticals in a report on Thursday, May 16th. BidaskClub raised CASI Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th.
CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.09). Equities research analysts forecast that CASI Pharmaceuticals will post -0.28 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in CASI. Heritage Investors Management Corp purchased a new stake in shares of CASI Pharmaceuticals during the 1st quarter worth approximately $29,000. BNP Paribas Arbitrage SA purchased a new stake in shares of CASI Pharmaceuticals during the 1st quarter worth approximately $30,000. Marshall Wace LLP purchased a new stake in shares of CASI Pharmaceuticals during the 1st quarter worth approximately $44,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of CASI Pharmaceuticals by 365.5% during the 4th 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. Finally, IHT Wealth Management LLC boosted its stake in shares of CASI Pharmaceuticals by 121.2% during the 4th quarter. IHT Wealth Management LLC now owns 23,725 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 13,000 shares in the last quarter. 11.99% 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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