CASI Pharmaceuticals, Inc. (CASI) Trading 6.1% Higher on Insider Buying Activity
Shares of CASI Pharmaceuticals, Inc. (NASDAQ:CASI) traded up 6.1% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $4.84 and last traded at $3.48. 4,192,876 shares were traded during mid-day trading, an increase of 1,023% from the average session volume of 373,295 shares. The stock had previously closed at $3.28.
Specifically, Director Wei-Wu He bought 315,327 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average price of $1.33 per share, with a total value of $419,384.91. Following the completion of the purchase, the director now directly owns 212,323 shares of the company’s stock, valued at approximately $282,389.59. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased 996,329 shares of company stock valued at $1,647,138 in the last ninety days. Company insiders own 13.01% of the company’s stock.
Several research analysts recently weighed in on the company. ValuEngine raised CASI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. HC Wainwright reaffirmed a “buy” rating and set a $2.00 target price on shares of CASI Pharmaceuticals in a research note on Friday, September 8th. Finally, Maxim Group reaffirmed a “buy” rating and set a $4.00 target price on shares of CASI Pharmaceuticals in a research note on Friday, September 8th.
The firm’s 50-day moving average is $1.58 and its 200 day moving average is $1.20. The stock’s market capitalization is $219.11 million.
CASI Pharmaceuticals (NASDAQ:CASI) last released its quarterly earnings data on Monday, August 14th. The biotechnology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Equities analysts forecast that CASI Pharmaceuticals, Inc. will post ($0.15) EPS for the current fiscal year.
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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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