CASI Pharmaceuticals (NASDAQ:CASI)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Monday. They presently have a $4.50 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 16.28% from the stock’s current price.
The analysts wrote, “Olga Smolentseva, Ph.D. – (646-975-6966) / [email protected] Acquisition of Sandoz Portfolio Could Lead to Commerical Launch in 12 Months; Reiterate Buy A transformative acquisition. On January 26, CASI announced the acquisition of an abbreviated new drug application (ANDA) portfolio from Sandoz, the generic drug division of Novartis (NVS; not rated), for $18M. The portfolio includes several essential medications such as Entecavir, Lisinopril, Methimazole, and Midodrine and covers a broad spectrum of drugs such as antivirals, anti-depressants, hypertension drugs, and anti-inflammatory drugs. In our view, the acquisition of these 25 approved and 4 pending ANDAs is a transformative event for the company. With the worldwide ANDA data exclusivity, CASI can now quickly become a commercial force in both China and the US.””
Separately, Maxim Group set a $4.00 price objective on shares of CASI Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, November 14th.
CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. analysts predict that CASI Pharmaceuticals will post -0.13 EPS for the current year.
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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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