Cantor Fitzgerald Reiterates “Hold” Rating for Sunesis Pharmaceuticals, Inc. (SNSS)
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)‘s stock had its “hold” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday. They presently have a $3.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 14.07% from the company’s current price.
The analysts wrote, “Advancing Toward SNS-062 Data. SNSS has just begun enrolling patients in a Phase Ib study for SNS-062, which could have utility in ibrutinib-treated patients that develop a common resistance mutation (C481) and exploring the compound in CLL and other B-cell malignancies. Results from escalation cohorts could occur in 2Q18 (possibly ASCO, AACR), which could present a revaluation opportunity for the shares.””
Separately, Zacks Investment Research lowered Sunesis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th.
Shares of Sunesis Pharmaceuticals (SNSS) traded down 2.23% during mid-day trading on Thursday, hitting $2.63. The stock had a trading volume of 80,555 shares. The company has a 50 day moving average price of $2.78 and a 200 day moving average price of $3.55. The firm’s market cap is $56.44 million. Sunesis Pharmaceuticals has a 12-month low of $2.51 and a 12-month high of $6.30.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. During the same period in the prior year, the business earned ($0.12) EPS. Equities analysts forecast that Sunesis Pharmaceuticals will post ($2.02) earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Sunesis Pharmaceuticals by 1.1% in the first quarter. Renaissance Technologies LLC now owns 111,811 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 1,230 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Sunesis Pharmaceuticals by 16.6% in the first quarter. Neuberger Berman Group LLC now owns 140,555 shares of the biopharmaceutical company’s stock valued at $576,000 after buying an additional 20,000 shares during the period. Finally, TFS Capital LLC acquired a new stake in shares of Sunesis Pharmaceuticals during the first quarter valued at approximately $158,000. 55.15% of the stock is owned by institutional investors and hedge funds.
Sunesis Pharmaceuticals Company Profile
Sunesis Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of its pipeline of oncology therapeutics for the treatment of solid and hematologic cancers. The Company offers QINPREZO (vosaroxin), which is a product candidate for the treatment of acute myeloid leukemia (AML).
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