Zacks Investment Research lowered shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “Sunesis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics for oncology and other serious diseases. It has built a broad product candidate portfolio through internal discovery and in-licensing of novel cancer therapeutics. It is advancing its product candidates through in-house research and development efforts and strategic collaborations with leading pharmaceutical and biopharmaceutical companies. “
Other analysts have also recently issued reports about the company. ValuEngine raised Sunesis Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, December 3rd. HC Wainwright restated a hold rating on shares of Sunesis Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Cowen restated a hold rating on shares of Sunesis Pharmaceuticals in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Sunesis Pharmaceuticals currently has a consensus rating of Hold and an average price target of $2.67.
Shares of SNSS stock traded down $0.01 on Wednesday, reaching $0.56. 2,808,659 shares of the company’s stock traded hands, compared to its average volume of 1,423,146. Sunesis Pharmaceuticals has a 12-month low of $0.20 and a 12-month high of $1.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.56 and a current ratio of 4.56. The business’s 50 day moving average price is $0.36 and its two-hundred day moving average price is $0.63.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.04. On average, sell-side analysts predict that Sunesis Pharmaceuticals will post -0.28 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in SNSS. Algert Global LLC boosted its holdings in shares of Sunesis Pharmaceuticals by 226.1% during the second quarter. Algert Global LLC now owns 67,014 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 46,464 shares during the period. A.R.T. Advisors LLC boosted its stake in shares of Sunesis Pharmaceuticals by 33.9% during the 2nd quarter. A.R.T. Advisors LLC now owns 98,842 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 25,042 shares during the last quarter. Northern Trust Corp increased its holdings in Sunesis Pharmaceuticals by 54.8% in the 2nd quarter. Northern Trust Corp now owns 165,769 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 58,653 shares in the last quarter. Millennium Management LLC purchased a new stake in Sunesis Pharmaceuticals in the 3rd quarter worth $308,000. Finally, BlackRock Inc. increased its holdings in Sunesis Pharmaceuticals by 257.3% in the 2nd quarter. BlackRock Inc. now owns 783,059 shares of the biopharmaceutical company’s stock valued at $569,000 after acquiring an additional 563,924 shares during the last quarter. Hedge funds and other institutional investors own 53.07% of the company’s stock.
Sunesis Pharmaceuticals Company Profile
Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of targeted inhibitors for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalent inhibitor of Bruton’s tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.
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