CASI Pharmaceuticals, Inc. (CASI) Trading 6.1% Higher Following Insider Buying Activity

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares 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 changed hands during 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 purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were acquired at an average cost of $1.95 per share, for a total transaction of $195,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 996,329 shares of company stock worth $1,647,138 over the last 90 days. 13.01% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $2.00 price target on shares of CASI Pharmaceuticals in a research note on Friday, September 8th. Maxim Group set a $4.00 price target on shares of CASI Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, ValuEngine downgraded shares of CASI Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 22nd.

The company’s 50-day moving average is $1.50 and its 200-day moving average is $1.18. The firm’s market cap is $209.48 million.

CASI Pharmaceuticals (NASDAQ:CASI) last posted its earnings results on Monday, August 14th. The biotechnology company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). Analysts anticipate 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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