CASI Pharmaceuticals Inc [NASDAQ: CASI] closed the trading session at $5.66. The company report on March 5, 2024 at 7:00 AM that CASI Pharmaceuticals Report Positive Interim Phase 1 Data For BI-1206 In The Treatment Of Relapsed/Refractory Indolent Non-Hodgkin’s Lymphoma In China.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a biopharmaceutical company specializing in the development and commercialization of innovative therapeutic and pharmaceutical products, and BioInvent International AB (“BioInvent”) (Nasdaq Stockholm: BINV), a biotech company focused on the discovery and development of novel and first-in-class immune-modulatory antibodies for cancer immunotherapy, today announced preliminary encouraging efficacy data for BI-1206 in combination with rituximab in patients with relapsed/refractory (R/R) indolent Non-Hodgkin’s Lymphoma (iNHL) in the ongoing development program in China.
BI-1206 is a first-in-class fully human monoclonal antibody (mAb) that targets FcγRIIB. It is being evaluated in combination with rituximab in patients with R/R iNHL. The Phase 1 study is designed to assess the safety, tolerability, pharmacology, and clinical activity of BI-1206, administered though intravenous (IV) infusion.
The stocks have a year to date performance of -20.95 percent and weekly performance of 3.28 percent. The stock has been moved at 162.04 percent over the last six months. The stock has performed -10.02 percent around the most recent 30 days and changed 1.25 percent over the most recent 3-months.
If compared to the average trading volume of 46.47K shares, CASI reached to a volume of 9778080 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $12.00 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 1.00. 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.
CASI stock trade performance evaluation
CASI Pharmaceuticals Inc [CASI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.28. With this latest performance, CASI shares dropped by -10.02% in over the last four-week period, additionally plugging by 162.04% over the last 6 months – not to mention a rise of 190.26% 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 47.49, with the RSI for the last a single of trading hit 49.34, and the three-weeks RSI is set at 47.86 for CASI Pharmaceuticals Inc [CASI]. The present Moving Average for the last 50 days of trading for this stock 6.11, while it was recorded at 5.51 for the last single week of trading, and 3.96 for the last 200 days.
Earnings per share (EPS) analysis for CASI Pharmaceuticals Inc [CASI] stock
With the latest financial reports released by the company, CASI Pharmaceuticals Inc posted -1.86/share EPS, while the average EPS was predicted by analysts to be reported at -0.37/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -402.70%. 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.
CASI Pharmaceuticals Inc [CASI]: Institutional Ownership
The top three institutional holders of CASI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CASI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CASI stock with ownership which is approximately 5.8325%.
