CASI Pharmaceuticals, Inc. (CASI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
CASI Pharmaceuticals, Inc. (NASDAQ:CASI) released its quarterly earnings results on Tuesday. The biotechnology company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01, Bloomberg Earnings reports.
Shares of CASI Pharmaceuticals (NASDAQ:CASI) traded up $0.21 during mid-day trading on Wednesday, reaching $2.72. The company had a trading volume of 3,584,500 shares, compared to its average volume of 228,756. CASI Pharmaceuticals has a 1-year low of $0.91 and a 1-year high of $4.84.
In related news, Director Wei-Wu He bought 315,327 shares of CASI Pharmaceuticals stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $1.33 per share, for a total transaction of $419,384.91. Following the completion of the acquisition, the director now directly owns 212,323 shares of the company’s stock, valued at approximately $282,389.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 996,329 shares of company stock worth $1,647,138 over the last quarter. 13.01% of the stock is currently owned by company insiders.
CASI has been the topic of several research reports. ValuEngine upgraded CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Maxim Group restated a “buy” rating and set a $4.00 price target on shares of CASI Pharmaceuticals in a report on Friday, September 8th. Finally, HC Wainwright restated a “buy” rating and set a $2.00 price target on shares of CASI Pharmaceuticals in a report on Friday, September 8th.
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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