Sean Lee CFA, an analyst from H.C. Wainwright, maintained the Buy rating on CASI Pharmaceuticals. The associated price target is $4.00.
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Sean Lee CFA has given his Buy rating due to a combination of factors including CASI Pharmaceuticals’ strategic focus on the development of CID-103, a promising monoclonal antibody targeting multiple immune disorders. The company is advancing its CID-103 program with an upcoming Phase 1 dose-finding study for antibody-mediated rejection (AMR) and ongoing trials for immune thrombocytopenia (ITP), with initial results expected in late 2025 or early 2026. Additionally, CASI plans to explore CID-103 for aplastic anemia, collectively targeting a market exceeding $3 billion annually.
Furthermore, the appointment of David Cory as CEO and Dr. Barbara Krebs-Pohl to the board strengthens the company’s leadership, bringing extensive experience in the biotech and pharma sectors. This leadership change is expected to drive CASI’s new strategic direction effectively. The Buy rating is supported by a 12-month price target of $4.00 per share, derived from a combination of price-sales and price-earnings multiple analyses, despite acknowledging potential risks such as clinical, regulatory, and financial challenges.
Lee CFA covers the Healthcare sector, focusing on stocks such as Plus Therapeutics, Senseonics Holdings, and Alphatec Holdings. According to TipRanks, Lee CFA has an average return of -1.2% and a 32.64% success rate on recommended stocks.