CASI Pharmaceuticals’ (CASI) Buy Rating Reiterated at Maxim Group
CASI Pharmaceuticals, Inc. (NASDAQ:CASI)‘s stock had its “buy” rating reissued by research analysts at Maxim Group in a report released on Friday. They currently have a $4.00 price target on the biotechnology company’s stock. Maxim Group’s price target points to a potential upside of 263.64% from the stock’s previous close.
The analysts wrote, “Summary CASI provided both a Pipeline Update and a review of the regulatory status of its in-licensed drugs EVOMELA, MARQIBO and ZEVALIN in China. We see a focused company executing on two fronts. One creates platform value and the other, pipeline value.””
Separately, ValuEngine downgraded shares of CASI Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd.
Shares of CASI Pharmaceuticals (NASDAQ:CASI) traded down 0.1273% during mid-day trading on Friday, reaching $1.0986. The company’s stock had a trading volume of 3,617 shares. The company has a 50-day moving average of $1.00 and a 200-day moving average of $1.13. CASI Pharmaceuticals has a 12 month low of $0.91 and a 12 month high of $1.76. The company’s market cap is $66.13 million.
CASI Pharmaceuticals (NASDAQ:CASI) last announced its earnings results on Monday, August 14th. The biotechnology company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.01. Equities research analysts forecast that CASI Pharmaceuticals will post ($0.15) earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Renaissance Technologies LLC raised its holdings in shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) by 103.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,800 shares of the biotechnology company’s stock after purchasing an additional 63,500 shares during the period. Renaissance Technologies LLC owned 0.21% of CASI Pharmaceuticals worth $144,000 as of its most recent SEC filing. Institutional investors own 3.82% of the company’s stock.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. It operates through the development of targeted therapeutics for the treatment of cancer segment. Its product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, and early-stage candidates in preclinical development.
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