CASI Pharmaceuticals (CASI) Cut to Buy at BidaskClub

BidaskClub cut shares of CASI Pharmaceuticals (NASDAQ:CASI) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

A number of other brokerages have also recently commented on CASI. HC Wainwright reissued a buy rating and issued a $4.50 price objective on shares of CASI Pharmaceuticals in a research note on Monday, January 29th. Maxim Group set a $4.00 price objective on shares of CASI Pharmaceuticals and gave the stock a buy rating in a research note on Tuesday, November 14th.

CASI Pharmaceuticals (NASDAQ:CASI) opened at $3.84 on Wednesday. CASI Pharmaceuticals has a 52 week low of $0.91 and a 52 week high of $4.84. The firm has a market cap of $269.13, a price-to-earnings ratio of -25.60 and a beta of 0.71.

Several large investors have recently modified their holdings of CASI. Millennium Management LLC purchased a new position in shares of CASI Pharmaceuticals in the 4th quarter worth $137,000. Perceptive Advisors LLC purchased a new position in shares of CASI Pharmaceuticals in the 4th quarter worth $272,000. Renaissance Technologies LLC grew its stake 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 buying an additional 37,700 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 187,263 shares in the last quarter. Finally, BlackRock Inc. grew its stake 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 buying an additional 94,984 shares in the last quarter. 3.39% of the stock is owned by institutional investors and hedge funds.

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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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