Sunday, April 11, 2021

why CASI Pharmaceuticals Inc. [CASI] is a Good Choice for Investors After New Price Target of $4.00

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CASI Pharmaceuticals Inc. [NASDAQ: CASI] loss -15.35% or -0.35 points to close at $1.93 with a heavy trading volume of 4507780 shares. The company report on March 24, 2021 that CASI Pharmaceuticals Announces Pricing Of $32,500,000 Public Offering Of Common Stock.

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CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, announced the pricing of an underwritten public offering of 15,853,658 shares of its common stock at a price to the public of $2.05 per share. CASI has granted the underwriters an option to purchase up to an additional 2,378,048 shares of common stock, which terminates on the earlier of 30 days and the day before CASI files to the U.S. Securities and Exchange Commission (“SEC”) its Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The offering is expected to close on or about March 26, 2021, subject to satisfaction of customary closing conditions. The gross proceeds to CASI from the offering, excluding any exercise by the underwriters of their option to purchase additional shares, are expected to be approximately $32.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by CASI.

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Oppenheimer & Co. Inc., Mizuho Securities USA LLC, and BTIG LLC are acting as joint book-running managers for the offering.

It opened the trading session at $2.07, the shares rose to $2.09 and dropped to $1.86, the range by which the price of stock traded the whole day. The daily chart for CASI points out that the company has recorded 25.32% gains over the past six months. However, it is still -32.19% lower than its most recent low trading price.

If we look at the average trading volume of 428.23K shares, CASI reached to a volume of 4507780 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CASI Pharmaceuticals Inc. [CASI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CASI shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CASI stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for CASI Pharmaceuticals Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 23, 2020. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on September 22, 2016, representing the official price target for CASI Pharmaceuticals Inc. stock. Previously, the target price had yet another raise from $2.50 to $3, while H.C. Wainwright kept a Buy rating on CASI stock.

The Average True Range (ATR) for CASI Pharmaceuticals Inc. is set at 0.17, with the Price to Sales ratio for CASI stock in the period of the last 12 months amounting to 19.86. The Price to Book ratio for the last quarter was 2.47, with the Price to Cash per share for the same quarter was set at 0.63.

Trading performance analysis for CASI stock

CASI Pharmaceuticals Inc. [CASI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.58. With this latest performance, CASI shares dropped by -24.02% in over the last four-week period, additionally plugging by 25.32% over the last 6 months – not to mention a rise of 7.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CASI stock in for the last two-week period is set at 27.01, with the RSI for the last a single of trading hit 21.61, and the three-weeks RSI is set at 31.48 for CASI Pharmaceuticals Inc. [CASI]. The present Moving Average for the last 50 days of trading for this stock 2.8752, while it was recorded at 2.2740 for the last single week of trading, and 2.3047 for the last 200 days.

CASI Pharmaceuticals Inc. [CASI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CASI Pharmaceuticals Inc. [CASI] shares currently have an operating margin of -968.07 and a Gross Margin at -32.78. CASI Pharmaceuticals Inc.’s Net Margin is presently recorded at -1114.31.

Return on Total Capital for CASI is now -38.67, given the latest momentum, and Return on Invested Capital for the company is -50.18. Return on Equity for this stock declined to -50.46, with Return on Assets sitting at -42.61. When it comes to the capital structure of this company, CASI Pharmaceuticals Inc. [CASI] has a Total Debt to Total Equity ratio set at 3.02. Additionally, CASI Total Debt to Total Capital is recorded at 2.93, with Total Debt to Total Assets ending up at 2.14. Long-Term Debt to Equity for the company is recorded at 1.40, with the Long-Term Debt to Total Capital now at 1.36.

Reflecting on the efficiency of the workforce at the company, CASI Pharmaceuticals Inc. [CASI] managed to generate an average of -$368,256 per employee. Receivables Turnover for the company is 6.39 with a Total Asset Turnover recorded at a value of 0.04.CASI Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.90 and a Current Ratio set at 15.00.

CASI Pharmaceuticals Inc. [CASI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, CASI Pharmaceuticals Inc. posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CASI.

An analysis of insider ownership at CASI Pharmaceuticals Inc. [CASI]

There are presently around $80 million, or 33.60% of CASI stock, in the hands of institutional investors. The top three institutional holders of CASI stocks are: IDG-ACCEL CHINA GROWTH FUND III ASSOCIATES L.P. with ownership of 7,973,536, which is approximately 0% of the company’s market cap and around 3.80% of the total institutional ownership; CONSONANCE CAPITAL MANAGEMENT LP, holding 7,576,431 shares of the stock with an approximate value of $14.62 million in CASI stocks shares; and FEDERATED HERMES, INC., currently with $13.51 million in CASI stock with ownership of nearly 1.449% of the company’s market capitalization.

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Positions in CASI Pharmaceuticals Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 42 institutional holders increased their position in CASI Pharmaceuticals Inc. [NASDAQ:CASI] by around 3,739,721 shares. Additionally, 24 investors decreased positions by around 1,915,520 shares, while 14 investors held positions by with 35,769,901 shares. The mentioned changes placed institutional holdings at 41,425,142 shares, according to the latest SEC report filing. CASI stock had 12 new institutional investments in for a total of 196,628 shares, while 7 institutional investors sold positions of 141,392 shares during the same period.

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