In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on CASI Pharmaceuticals (CASI), with a price target of $7. The company’s shares opened today at $4.64.
Ramakanth commented:
“We maintain our Buy rating of CASI and our 12-month price target of $7.00 per share. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying an 8x multiple to our 2025 sales estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) clinical; (2) regulatory; (3) financial; and (4) intellectual property.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 4.1% and a 38.1% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Tyme Technologies Inc.
CASI Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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The company has a one-year high of $8.89 and a one-year low of $2.55. Currently, CASI Pharmaceuticals has an average volume of 374.8K.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CASI in relation to earlier this year.
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CASI Pharmaceuticals, Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of therapeutics addressing cancer and other unmet medical needs with commercial focus on the China market. The firm develops and commercializes the oncology drugs and drug candidates in China, Taiwan, Hong Kong and Macau.
