BidaskClub Downgrades CASI Pharmaceuticals (CASI) to Buy

CASI Pharmaceuticals (NASDAQ:CASI) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

CASI has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of CASI Pharmaceuticals in a research report on Tuesday, January 16th. Maxim Group set a $4.00 price target on CASI Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 14th.

CASI Pharmaceuticals (NASDAQ:CASI) traded up $0.17 during trading on Wednesday, reaching $3.60. The company’s stock had a trading volume of 147,056 shares, compared to its average volume of 276,418. The company has a market cap of $257.95, a PE ratio of -24.00 and a beta of 0.71. CASI Pharmaceuticals has a fifty-two week low of $0.91 and a fifty-two week high of $4.84.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. research analysts forecast that CASI Pharmaceuticals will post -0.13 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of CASI Pharmaceuticals by 32.6% in the 4th quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock worth $1,254,000 after purchasing an additional 94,984 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CASI Pharmaceuticals by 488.7% in the 4th quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock worth $733,000 after purchasing an additional 187,263 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of CASI Pharmaceuticals by 33.4% in the 4th quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock worth $489,000 after purchasing an additional 37,700 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new stake in shares of CASI Pharmaceuticals in the 4th quarter worth approximately $272,000. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

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CASI Pharmaceuticals Company Profile

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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