CASI Pharmaceuticals, Inc. (NASDAQ:CASI) has been assigned a $4.00 price objective by Maxim Group in a report released on Tuesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s target price indicates a potential upside of 52.09% from the company’s current price.
The analysts wrote, “CASI Pharmaceuticals reported 3Q17 with a net loss of $1.6M and ended the period with $21.6M in cash. The company completed an equity financing in October, raising $23.8M. Combined, we estimate CASI currently has $44M on the balance sheet, sufficient runway into 2020. Our model has been adjusted accordingly. As we had already factored in future capital raises, the net effect is our price target of $4 remains unchanged.””
CASI has been the topic of several other reports. HC Wainwright restated a “buy” rating and issued a $2.00 price objective on shares of CASI Pharmaceuticals in a research report on Friday, September 8th. ValuEngine downgraded CASI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 22nd.
Shares of CASI Pharmaceuticals (NASDAQ CASI) traded down $0.09 during trading on Tuesday, hitting $2.63. The stock had a trading volume of 558,100 shares, compared to its average volume of 230,247. CASI Pharmaceuticals has a fifty-two week low of $0.91 and a fifty-two week high of $4.84.
CASI Pharmaceuticals (NASDAQ:CASI) last announced its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. sell-side analysts predict that CASI Pharmaceuticals will post -0.15 EPS for the current fiscal year.
In other news, Director Wei-Wu He bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were bought at an average cost of $1.95 per share, for a total transaction of $195,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 996,329 shares of company stock worth $1,647,138 over the last quarter. 13.01% of the stock is owned by company insiders.
CASI Pharmaceuticals Company Profile
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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