Comprehensive Stock Comparison
Compare CASI Pharmaceuticals, Inc. (CASI) vs United Therapeutics Corporation (UTHR) vs Zai Lab Limited (ZLAB) vs Amarin Corporation plc (AMRN) vs Alkermes plc (ALKS) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | ZLAB | 15.3% revenue growth vs AMRN's -25.5% |
| Value | UTHR | Lower P/E (16.9x vs 32.0x) |
| Quality / Margins | UTHR | 41.9% net margin vs CASI's -183.9% |
| Stability / Safety | UTHR | Beta 0.43 vs ZLAB's 0.99 |
| Dividends | CASI | 22.6% yield; UTHR, ZLAB, AMRN, ALKS pay no meaningful dividend |
| Momentum (1Y) | UTHR | +57.4% vs CASI's -90.8% |
| Efficiency (ROA) | UTHR | 16.9% ROA vs CASI's -201.9%, ROIC 21.1% vs -153.0% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
CASI Pharmaceuticals is a biopharmaceutical company that develops and commercializes oncology therapeutics primarily in China. It generates revenue from sales of its approved drug EVOMELA for multiple myeloma treatment and through licensing partnerships for its pipeline of CAR-T therapies and other investigational cancer drugs. The company's key advantage lies in its strategic focus on the Chinese oncology market and its pipeline of novel immunotherapies targeting hematological cancers.
United Therapeutics is a biotechnology company focused on developing and commercializing therapies for pulmonary arterial hypertension and other rare diseases. It generates revenue primarily from its portfolio of PAH treatments — including Remodulin, Tyvaso, and Orenitram — which account for the vast majority of its sales. The company's competitive advantage lies in its deep expertise in prostacyclin therapies and its vertically integrated manufacturing capabilities for complex drug delivery systems.
Zai Lab is a biopharmaceutical company that licenses, develops, and commercializes innovative therapies for oncology, autoimmune disorders, and infectious diseases primarily in Greater China. It generates revenue through product sales of its commercialized drugs — like Zejula for ovarian cancer and NUZYRA for bacterial infections — supplemented by milestone payments and royalties from its extensive partnership network. The company's key advantage lies in its strategic licensing model that gives it exclusive rights to promising late-stage and commercial-stage therapies for the Greater China market, allowing it to build a diversified portfolio without bearing full R&D costs.
Amarin Corporation is a pharmaceutical company focused on developing and commercializing cardiovascular therapeutics. It generates nearly all its revenue from VASCEPA — a prescription omega-3 fatty acid product for reducing triglyceride levels — sold primarily to wholesalers and specialty pharmacies. Its key advantage is patent protection and regulatory exclusivity for VASCEPA, though this moat faces challenges from generic competition.
Alkermes is a biopharmaceutical company that develops and commercializes medicines for central nervous system disorders and other serious conditions. It generates revenue primarily from product sales of its proprietary drugs like VIVITROL and ARISTADA — which treat addiction and schizophrenia — along with royalties from partnered products and manufacturing services. The company's competitive advantage lies in its specialized drug delivery technologies that enable long-acting injectable formulations, creating significant barriers to entry for competitors.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
UTHR leads in 6 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
UTHR is the larger business by revenue, generating $3.2B annually — 118.6x CASI's $27M. UTHR is the more profitable business, keeping 41.9% of every revenue dollar as net income compared to CASI's -183.9%. On growth, AMRN holds the edge at +17.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $27M | $3.2B | $460M | $227M | $1.5B |
| EBITDAEarnings before interest/tax | -$44M | $1.6B | -$218M | -$93M | $281M |
| Net IncomeAfter-tax profit | -$49M | $1.3B | -$176M | -$86M | $242M |
| Free Cash FlowCash after capex | $0 | $1.0B | -$159M | -$22M | $520,800 |
| Gross MarginGross profit ÷ Revenue | +35.8% | +87.9% | +58.6% | +38.9% | +86.3% |
| Operating MarginEBIT ÷ Revenue | -168.0% | +46.9% | -49.9% | -42.5% | +17.2% |
| Net MarginNet income ÷ Revenue | -183.9% | +41.9% | -38.1% | -38.0% | +16.4% |
| FCF MarginFCF ÷ Revenue | -103.2% | +32.7% | -34.5% | -9.6% | +0.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -60.5% | +7.4% | +17.0% | +17.4% | -10.6% |
| EPS Growth (YoY)Latest quarter vs prior year | -23.6% | +23.7% | +43.8% | +69.7% | -67.0% |
Valuation Metrics
At 18.1x trailing earnings, UTHR trades at a 14% valuation discount to ALKS's 21.0x P/E. On an enterprise value basis, UTHR's 12.9x EV/EBITDA is more attractive than ALKS's 15.9x.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| Market CapShares × price | $3M | $22.0B | $21.3B | $5.7B | $5.0B |
| Enterprise ValueMkt cap + debt − cash | $12M | $20.4B | $20.8B | $5.6B | $4.5B |
| Trailing P/EPrice ÷ TTM EPS | -0.08x | 18.09x | -12.01x | -3.45x | 21.05x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 16.90x | — | — | 32.04x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.94x | — | — | — |
| EV / EBITDAEnterprise value multiple | — | 12.95x | — | — | 15.89x |
| Price / SalesMarket cap ÷ Revenue | 0.11x | 6.91x | 46.21x | 25.11x | 3.38x |
| Price / BookPrice ÷ Book value/share | 1.72x | 3.40x | 2.94x | 0.58x | 2.79x |
| Price / FCFMarket cap ÷ FCF | — | 21.13x | — | — | 9571.39x |
Profitability & Efficiency
UTHR delivers a 18.8% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $-3 for CASI. AMRN carries lower financial leverage with a 0.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to CASI's 11.96x. On the Piotroski fundamental quality scale (0–9), UTHR scores 7/9 vs AMRN's 2/9, reflecting strong financial health.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -3.0% | +18.8% | -24.5% | -18.8% | +13.3% |
| ROA (TTM)Return on assets | -2.0% | +16.9% | -15.0% | -13.1% | +9.7% |
| ROICReturn on invested capital | -153.0% | +21.1% | -42.8% | -18.7% | +14.9% |
| ROCEReturn on capital employed | -104.6% | +21.4% | -27.9% | -17.0% | +14.4% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 7 | 3 | 2 | 5 |
| Debt / EquityFinancial leverage | 11.96x | — | 0.31x | 0.02x | 0.04x |
| Net DebtTotal debt minus cash | $9M | -$1.6B | -$455M | -$113M | -$518M |
| Cash & Equiv.Liquid assets | $13M | $1.6B | $680M | $121M | $588M |
| Total DebtShort + long-term debt | $22M | $0 | $224M | $8M | $70M |
| Interest CoverageEBIT ÷ Interest expense | -66.88x | 88.89x | -48.75x | -7085.14x | 23.55x |
Total Returns (with DRIP)
A $10,000 investment in UTHR five years ago would be worth $29,421 today (with dividends reinvested), compared to $82 for CASI. Over the past 12 months, UTHR leads with a +57.4% total return vs CASI's -90.8%. The 3-year compound annual growth rate (CAGR) favors UTHR at 27.0% vs CASI's -52.4% — a key indicator of consistent wealth creation.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -74.7% | +1.4% | +10.9% | +0.6% | +6.5% |
| 1-Year ReturnPast 12 months | -90.8% | +57.4% | -44.5% | +27.3% | -12.3% |
| 3-Year ReturnCumulative with dividends | -89.2% | +104.8% | -48.3% | -66.0% | +12.6% |
| 5-Year ReturnCumulative with dividends | -99.2% | +194.2% | -88.1% | -88.9% | +56.8% |
| 10-Year ReturnCumulative with dividends | -97.4% | +313.2% | -31.2% | -52.7% | -6.7% |
| CAGR (3Y)Annualised 3-year return | -52.4% | +27.0% | -19.7% | -30.2% | +4.0% |
Risk & Volatility
UTHR is the less volatile stock with a 0.43 beta — it tends to amplify market swings less than ZLAB's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. UTHR currently trades 93.8% from its 52-week high vs CASI's 6.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.46x | 0.43x | 0.99x | 0.84x | 0.61x |
| 52-Week HighHighest price in past year | $3.09 | $537.00 | $44.34 | $20.90 | $36.32 |
| 52-Week LowLowest price in past year | $0.21 | $266.98 | $15.96 | $7.08 | $25.17 |
| % of 52W HighCurrent price vs 52-week peak | +6.7% | +93.8% | +43.3% | +66.0% | +82.9% |
| RSI (14)Momentum oscillator 0–100 | 41.9 | 58.6 | 57.7 | 40.0 | 39.0 |
| Avg Volume (50D)Average daily shares traded | 34K | 274K | 622K | 76K | 1.6M |
Analyst Outlook
Analyst consensus: UTHR as "Buy", ZLAB as "Buy", AMRN as "Hold", ALKS as "Buy". Consensus price targets imply 82.1% upside for ZLAB (target: $35) vs -84.3% for AMRN (target: $2). CASI is the only dividend payer here at 22.56% yield — a key consideration for income-focused portfolios.
| Metric | CASICASI Pharmaceutic… | UTHRUnited Therapeuti… | ZLABZai Lab Limited | AMRNAmarin Corporatio… | ALKSAlkermes plc |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | — | $563.17 | $35.00 | $2.17 | $46.00 |
| # AnalystsCovering analysts | — | 30 | 11 | 18 | 28 |
| Dividend YieldAnnual dividend ÷ price | +22.6% | — | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | 1 | — | — | 0 |
| Dividend / ShareAnnual DPS | $0.05 | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +4.5% | 0.0% | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| CASI Pharmaceutical… (CASI) | 100 | 5.53 | -94.5% |
| United Therapeutics… (UTHR) | 100 | 457.48 | +357.5% |
| Zai Lab Limited (ZLAB) | 100 | 28.99 | -71.0% |
| Amarin Corporation … (AMRN) | 100 | 4.66 | -95.3% |
| Alkermes plc (ALKS) | 100 | 164.6 | +64.6% |
United Therapeutics… (UTHR) returned +194% over 5 years vs CASI Pharmaceutical… (CASI)'s -99%. A $10,000 investment in UTHR 5 years ago would be worth $29,421 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CASI Pharmaceutical… (CASI) | $0.00 | $29M | — |
| United Therapeutics… (UTHR) | $1.6B | $3.2B | +99.1% |
| Zai Lab Limited (ZLAB) | $0.00 | $460M | — |
| Amarin Corporation … (AMRN) | $130M | $229M | +75.7% |
| Alkermes plc (ALKS) | $746M | $1.5B | +97.9% |
United Therapeutics Corporation's revenue grew from $1.6B (2016) to $3.2B (2025) — a 7.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CASI Pharmaceutical… (CASI) | -11.0% | -137.6% | -1152.8% |
| United Therapeutics… (UTHR) | 44.6% | 41.9% | -6.1% |
| Zai Lab Limited (ZLAB) | -1074.3% | -38.1% | +96.4% |
| Amarin Corporation … (AMRN) | -66.4% | -35.9% | +45.8% |
| Alkermes plc (ALKS) | -28.0% | 16.4% | +158.6% |
United Therapeutics Corporation's net margin went from 45% (2016) to 42% (2025).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| United Therapeutics… (UTHR) | 15.9 | 17.5 | +10.1% |
| Alkermes plc (ALKS) | 13.2 | 19.6 | +48.5% |
United Therapeutics Corporation has traded in a 8x–22x P/E range over 8 years; current trailing P/E is ~18x. Alkermes plc has traded in a 13x–20x P/E range over 3 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| CASI Pharmaceutical… (CASI) | -1.69 | -2.56 | -51.5% |
| United Therapeutics… (UTHR) | 15.25 | 27.86 | +82.7% |
| Zai Lab Limited (ZLAB) | -39.7 | -1.6 | +96.0% |
| Amarin Corporation … (AMRN) | -8.2 | -4 | +51.2% |
| Alkermes plc (ALKS) | -1.38 | 1.43 | +203.6% |
United Therapeutics Corporation's EPS grew from $15.25 (2016) to $27.86 (2025) — a 7% CAGR.
Chart 6Free Cash Flow — 5 Years
CASI Pharmaceuticals, Inc. generated $-29M FCF in 2024 (+30% vs 2021). United Therapeutics Corporation generated $1B FCF in 2025 (+118% vs 2021).
CASI vs UTHR vs ZLAB vs AMRN vs ALKS: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is CASI or UTHR or ZLAB or AMRN or ALKS a better buy right now?
United Therapeutics Corporation (UTHR) offers the better valuation at 18.1x trailing P/E (16.9x forward), making it the more compelling value choice. Analysts rate United Therapeutics Corporation (UTHR) a "Buy" — based on 30 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CASI or UTHR or ZLAB or AMRN or ALKS?
On trailing P/E, United Therapeutics Corporation (UTHR) is the cheapest at 18.1x versus Alkermes plc at 21.0x. On forward P/E, United Therapeutics Corporation is actually cheaper at 16.9x.
03Which is the better long-term investment — CASI or UTHR or ZLAB or AMRN or ALKS?
Over the past 5 years, United Therapeutics Corporation (UTHR) delivered a total return of +194.2%, compared to -99.2% for CASI Pharmaceuticals, Inc. (CASI). A $10,000 investment in UTHR five years ago would be worth approximately $29K today (assuming dividends reinvested). Over 10 years, the gap is even starker: UTHR returned +313.2% versus CASI's -97.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CASI or UTHR or ZLAB or AMRN or ALKS?
By beta (market sensitivity over 5 years), United Therapeutics Corporation (UTHR) is the lower-risk stock at 0.43β versus Zai Lab Limited's 0.99β — meaning ZLAB is approximately 129% more volatile than UTHR relative to the S&P 500. On balance sheet safety, Amarin Corporation plc (AMRN) carries a lower debt/equity ratio of 2% versus 12% for CASI Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — CASI or UTHR or ZLAB or AMRN or ALKS?
United Therapeutics Corporation (UTHR) is the more profitable company, earning 41.9% net margin versus -137.6% for CASI Pharmaceuticals, Inc. — meaning it keeps 41.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: UTHR leads at 46.9% versus -138.8% for CASI. At the gross margin level — before operating expenses — UTHR leads at 87.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CASI or UTHR or ZLAB or AMRN or ALKS more undervalued right now?
On forward earnings alone, United Therapeutics Corporation (UTHR) trades at 16.9x forward P/E versus 32.0x for Alkermes plc — 15.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ZLAB: 82.1% to $35.00.
07Which pays a better dividend — CASI or UTHR or ZLAB or AMRN or ALKS?
In this comparison, CASI (22.6% yield) pays a dividend. UTHR, ZLAB, AMRN, ALKS do not pay a meaningful dividend and should not be held primarily for income.
08Is CASI or UTHR or ZLAB or AMRN or ALKS better for a retirement portfolio?
For long-horizon retirement investors, CASI Pharmaceuticals, Inc. (CASI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.46), 22.6% yield). Both have compounded well over 10 years (CASI: -97.4%, ZLAB: -31.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CASI and UTHR and ZLAB and AMRN and ALKS?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: CASI is a small-cap income-oriented stock; UTHR is a mid-cap quality compounder stock; ZLAB is a mid-cap quality compounder stock; AMRN is a small-cap quality compounder stock; ALKS is a small-cap quality compounder stock. CASI pays a dividend while UTHR, ZLAB, AMRN, ALKS do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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