CASI Pharmaceuticals Inc (CASI) Given $7.59 Consensus Target Price by Brokerages

Shares of CASI Pharmaceuticals Inc (NASDAQ:CASI) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus price objective of $7.59 for the company and are anticipating that the company will post ($0.10) EPS for the current quarter, according to Zacks. Zacks has also assigned CASI Pharmaceuticals an industry rank of 69 out of 256 based on the ratings given to its competitors.

Several research analysts recently issued reports on CASI shares. BidaskClub cut CASI Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, January 25th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of CASI Pharmaceuticals in a report on Thursday.

Shares of NASDAQ:CASI traded down $0.07 during mid-day trading on Monday, reaching $3.15. The stock had a trading volume of 151,106 shares, compared to its average volume of 158,295. The company has a market capitalization of $301.52 million, a P/E ratio of -9.84 and a beta of 1.19. CASI Pharmaceuticals has a 1 year low of $2.73 and a 1 year high of $8.89.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). Equities research analysts predict that CASI Pharmaceuticals will post -0.27 earnings per share for the current year.

Several large investors have recently bought and sold shares of CASI. BlackRock Inc. boosted its holdings in CASI Pharmaceuticals by 5.3% in the 3rd quarter. BlackRock Inc. now owns 2,858,636 shares of the biotechnology company’s stock worth $13,351,000 after buying an additional 144,301 shares during the last quarter. Vanguard Group Inc raised its position in CASI Pharmaceuticals by 10.2% in the third quarter. Vanguard Group Inc now owns 1,933,143 shares of the biotechnology company’s stock valued at $9,027,000 after purchasing an additional 178,462 shares during the period. Vanguard Group Inc. raised its position in CASI Pharmaceuticals by 10.2% in the third quarter. Vanguard Group Inc. now owns 1,933,143 shares of the biotechnology company’s stock valued at $9,027,000 after purchasing an additional 178,462 shares during the period. Wellington Shields Capital Management LLC raised its position in CASI Pharmaceuticals by 32.5% in the fourth quarter. Wellington Shields Capital Management LLC now owns 1,177,131 shares of the biotechnology company’s stock valued at $4,732,000 after purchasing an additional 288,798 shares during the period. Finally, Wellington Shields & Co. LLC grew its stake in shares of CASI Pharmaceuticals by 4.3% in the first quarter. Wellington Shields & Co. LLC now owns 1,126,650 shares of the biotechnology company’s stock worth $3,233,000 after acquiring an additional 46,000 shares in the last quarter. Hedge funds and other 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.

Featured Article: How to identify percentage decliners

Get a free copy of the Zacks research report on CASI Pharmaceuticals (CASI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CASI Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CASI Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.