why CASI Pharmaceuticals Inc. [CASI] is a Good Choice for Investors After New Price Target of $4.33

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CASI Pharmaceuticals Inc. [NASDAQ: CASI] slipped around -3.03 points on Wednesday, while shares priced at $0.41 at the close of the session, down -88.20%. The company report on May 26, 2022 that CASI PHARMACEUTICALS ANNOUNCES REVERSE STOCK SPLIT.


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CASI Pharmaceuticals, Inc. (NASDAQ: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced it has filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to implement a 1-for-10 reverse stock split that will become effective at 5:00 p.m., Eastern Time, on June 1, 2022. The primary objective of implementing a reverse split is to satisfy the minimum bid price requirement for continued listing on The NASDAQ Capital Market (Rule 5550(a)(1)).

At CASI’s Annual Meeting of Stockholders held on May 25, 2022, stockholders voted to approve a proposal authorizing the Board of Directors, at its discretion, to implement a reverse split at a ratio between 1-for-2 and 1-for-20 of the Company’s common stock without further action from stockholders, and, as authorized, the Board of Directors has elected to implement a reverse split at the ratio of 1-for-10.

CASI Pharmaceuticals Inc. stock is now -94.92% down from its year-to-date (YTD) trading value. CASI Stock saw the intraday high of $4.90 and lowest of $3.953 per share. The company’s 52-week high price is 17.75, which means current price is +31.02% above from all time high which was touched on 03/30/22.

Compared to the average trading volume of 40.27K shares, CASI reached a trading volume of 4171546 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $4.33 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 1.30. 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.

BTIG Research have made an estimate for CASI Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 18, 2021. While these analysts kept the previous recommendation, Mizuho raised their target price to Buy. The new note on the price target was released on April 26, 2021, representing the official price target for CASI Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $5, while Oppenheimer analysts kept a Outperform rating on CASI stock.

The Average True Range (ATR) for CASI Pharmaceuticals Inc. is set at 0.86, with the Price to Sales ratio for CASI stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 0.20.

How has CASI stock performed recently?

CASI Pharmaceuticals Inc. [CASI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -90.20. With this latest performance, CASI shares dropped by -90.24% in over the last four-week period, additionally sinking by -95.47% over the last 6 months – not to mention a drop of -97.54% 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 23.19, with the RSI for the last a single of trading hit 49.48, and the three-weeks RSI is set at 43.90 for CASI Pharmaceuticals Inc. [CASI]. The present Moving Average for the last 50 days of trading for this stock 0.5522, while it was recorded at 0.4215 for the last single week of trading, and 0.8933 for the last 200 days.

CASI Pharmaceuticals Inc. [CASI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CASI Pharmaceuticals Inc. [CASI] shares currently have an operating margin of -118.02 and a Gross Margin at +53.68. CASI Pharmaceuticals Inc.’s Net Margin is presently recorded at -122.10.

Return on Equity for this stock declined to -44.15, with Return on Assets sitting at -27.56.

CASI Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.80.

Insider trade positions for CASI Pharmaceuticals Inc. [CASI]

There are presently around $11 million, or 17.50% of CASI stock, in the hands of institutional investors. The top three institutional holders of CASI stocks are: FEDERATED HERMES, INC. with ownership of 10,150,000, which is approximately 0% of the company’s market cap and around 32.04% of the total institutional ownership; IDG-ACCEL CHINA GROWTH FUND III ASSOCIATES L.P., holding 7,973,536 shares of the stock with an approximate value of $2.74 million in CASI stocks shares; and VANGUARD GROUP INC, currently with $1.05 million in CASI stock with ownership of nearly -20.507% of the company’s market capitalization.

Positions in CASI Pharmaceuticals Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 12 institutional holders increased their position in CASI Pharmaceuticals Inc. [NASDAQ:CASI] by around 729,120 shares. Additionally, 24 investors decreased positions by around 5,353,280 shares, while 21 investors held positions by with 25,233,680 shares. The mentioned changes placed institutional holdings at 31,316,080 shares, according to the latest SEC report filing. CASI stock had 5 new institutional investments in for a total of 129,808 shares, while 10 institutional investors sold positions of 2,577,546 shares during the same period.

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