CASI Pharmaceuticals Inc (CASI) Given $11.00 Average Target Price by Brokerages

CASI Pharmaceuticals Inc (NASDAQ:CASI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 12 month consensus target price of $11.00 for the company and are forecasting 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 84 out of 255 based on the ratings given to related companies.

Separately, BidaskClub raised shares of CASI Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday.

Several hedge funds have recently added to or reduced their stakes in CASI. Geode Capital Management LLC raised its stake in shares of CASI Pharmaceuticals by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 584,970 shares of the biotechnology company’s stock valued at $2,351,000 after purchasing an additional 75,815 shares in the last quarter. IHT Wealth Management LLC lifted its stake in CASI Pharmaceuticals by 121.2% during the fourth quarter. IHT Wealth Management LLC now owns 23,725 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 13,000 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in CASI Pharmaceuticals by 365.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 18,946 shares of the biotechnology company’s stock valued at $76,000 after purchasing an additional 14,876 shares during the last quarter. Bank of America Corp DE lifted its position in shares of CASI Pharmaceuticals by 132.9% in the 4th quarter. Bank of America Corp DE now owns 28,954 shares of the biotechnology company’s stock worth $117,000 after buying an additional 16,521 shares during the last quarter. Finally, Wellington Shields & Co. LLC raised its stake in CASI Pharmaceuticals by 20.6% during the fourth quarter. Wellington Shields & Co. LLC now owns 1,080,650 shares of the biotechnology company’s stock worth $4,344,000 after acquiring an additional 184,513 shares during the period. 11.93% of the stock is owned by institutional investors and hedge funds.

CASI Pharmaceuticals stock traded up $0.31 during trading on Wednesday, reaching $3.47. The company had a trading volume of 187,166 shares, compared to its average volume of 171,818. CASI Pharmaceuticals has a 12-month low of $2.73 and a 12-month high of $8.89. The company has a market cap of $302.47 million, a price-to-earnings ratio of -10.84 and a beta of 1.16.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its quarterly earnings results on Friday, March 29th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). As a group, analysts anticipate that CASI Pharmaceuticals will post -0.23 EPS for the current fiscal year.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma and triple-negative breast cancer.

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