Sunesis Pharmaceuticals Trading Down 8.4% After Earnings Miss (SNSS)
Sunesis Pharmaceuticals (NASDAQ:SNSS)’s share price dropped 8.4% during trading on Wednesday after the company announced weaker than expected quarterly earnings, AnalystRatingsNetwork.com reports. The company traded as low as $4.60 and last traded at $4.60, with a volume of 280,156 shares changing hands. The stock had previously closed at $5.02.
The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.17) by $0.09. The company had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.32 million. The company’s quarterly revenue was up .0% on a year-over-year basis.
A number of research firms have recently commented on SNSS. Analysts at Cantor Fitzgerald raised their price target on shares of Sunesis Pharmaceuticals from $8.00 to $14.00 in a research note on Monday, March 10th. Separately, analysts at Leerink Swann raised their price target on shares of Sunesis Pharmaceuticals from $14.00 to $17.00 in a research note on Wednesday, March 5th. They now have an “outperform” rating on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Sunesis Pharmaceuticals from $10.00 to $14.00 in a research note on Tuesday, February 25th.
The stock has a 50-day moving average of $5.95 and a 200-day moving average of $5.32. The company’s market cap is $287.9 million.
Sunesis Pharmaceuticals, Inc (NASDAQ:SNSS) is a biopharmaceutical company focused on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers.
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