Oppenheimer began coverage on shares of CASI Pharmaceuticals (NASDAQ:CASI) in a research note published on Friday, Analyst Ratings Network reports. The brokerage issued an outperform rating and a $5.00 price target on the biotechnology company’s stock.
NASDAQ CASI opened at $1.80 on Friday. CASI Pharmaceuticals has a 52 week low of $1.15 and a 52 week high of $3.57. The stock’s 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.99. The stock has a market capitalization of $223.10 million, a price-to-earnings ratio of -4.39 and a beta of 0.71.
CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The business had revenue of $2.67 million for the quarter, compared to analyst estimates of $3.75 million. CASI Pharmaceuticals had a negative net margin of 388.71% and a negative return on equity of 53.15%. Sell-side analysts forecast that CASI Pharmaceuticals will post -0.25 earnings per share for the current fiscal year.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc, a biopharmaceutical company, develops and commercializes 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.
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