EntreMed (NASDAQ:CASI) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, May 2nd.
Several other research analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $4.50 price target on shares of EntreMed in a research note on Monday, January 29th. BidaskClub raised EntreMed from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th.
Shares of EntreMed opened at $7.18 on Wednesday, MarketBeat.com reports. The stock has a market capitalization of $645.23 million, a price-to-earnings ratio of -39.89 and a beta of 0.84. EntreMed has a fifty-two week low of $7.75 and a fifty-two week high of $8.03. The company has a quick ratio of 8.66, a current ratio of 25.53 and a debt-to-equity ratio of 0.02.
In related news, major shareholder China Growth Fund Idg-Accel II purchased 3,086,418 shares of EntreMed stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average cost of $3.19 per share, for a total transaction of $9,845,673.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wei-Wu He acquired 3,086,419 shares of the company’s stock in a transaction on Monday, March 19th. The stock was acquired at an average cost of $3.24 per share, for a total transaction of $9,999,997.56. Following the completion of the acquisition, the director now owns 847,527 shares of the company’s stock, valued at approximately $2,745,987.48. The disclosure for this purchase can be found here. Company insiders own 24.52% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in EntreMed by 33.4% in the fourth quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock valued at $489,000 after purchasing an additional 37,700 shares during the period. Millennium Management LLC purchased a new stake in shares of EntreMed in the 4th quarter valued at $137,000. Perceptive Advisors LLC purchased a new stake in shares of EntreMed in the 4th quarter valued at $272,000. BlackRock Inc. raised its holdings in shares of EntreMed by 32.6% in the 4th quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock valued at $1,254,000 after buying an additional 94,984 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of EntreMed by 488.7% in the 4th quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock valued at $733,000 after buying an additional 187,263 shares during the period. Institutional investors own 4.51% of the company’s stock.
CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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