CASI Pharmaceuticals (CASI) Releases Earnings Results, Meets Estimates

CASI Pharmaceuticals (CASI) Releases  Earnings Results, Meets Estimates

CASI Pharmaceuticals (NASDAQ:CASI) announced its earnings results on Wednesday. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09), MarketWatch Earnings reports.

Shares of CASI stock opened at $3.20 on Thursday. CASI Pharmaceuticals has a 1 year low of $2.73 and a 1 year high of $8.89. The company has a market cap of $306.30 million, a PE ratio of -10.00 and a beta of 1.19.

Separately, BidaskClub lowered shares of CASI Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, January 25th.

A hedge fund recently raised its stake in CASI Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in shares of CASI Pharmaceuticals Inc (NASDAQ:CASI) by 14.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584,970 shares of the biotechnology company’s stock after purchasing an additional 75,815 shares during the period. Geode Capital Management LLC owned approximately 0.61% of CASI Pharmaceuticals worth $2,351,000 at the end of the most recent reporting period. Institutional investors own 11.88% of the company’s stock.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc, a pharmaceutical company, develops pharmaceutical products and various therapeutics in China, the United States, and internationally. The company's product pipeline includes EVOMELA, a melphalan hydrochloride for injection primarily for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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