Wells Fargo & Company Lowers Sunesis Pharmaceuticals (SNSS) to Market Perform
Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by investment analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other equities analysts have also recently weighed in on the stock. Oppenheimer assumed coverage on shares of Sunesis Pharmaceuticals in a research report on Tuesday, November 21st. They set an “outperform” rating and a $7.00 price objective on the stock. UBS assumed coverage on shares of Sunesis Pharmaceuticals in a research report on Monday, November 20th. They set an “outperform” rating on the stock. Cowen reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a research report on Thursday, November 2nd. Zacks Investment Research cut shares of Sunesis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $3.00 price objective on shares of Sunesis Pharmaceuticals in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $4.17.
Sunesis Pharmaceuticals (NASDAQ:SNSS) opened at $2.70 on Tuesday. Sunesis Pharmaceuticals has a 52-week low of $1.82 and a 52-week high of $4.45. The company has a debt-to-equity ratio of -0.34, a current ratio of 1.84 and a quick ratio of 1.84.
In related news, major shareholder Mpm Oncology Impact Management purchased 81,500 shares of the stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $2.77 per share, for a total transaction of $225,755.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dayton Misfeldt purchased 400,000 shares of the stock in a transaction dated Friday, October 27th. The shares were bought at an average price of $2.00 per share, for a total transaction of $800,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 506,800 shares of company stock worth $1,091,282. 10.21% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Sunesis Pharmaceuticals by 127.6% in the third quarter. Wells Fargo & Company MN now owns 95,247 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 53,396 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in Sunesis Pharmaceuticals during the 2nd quarter worth $5,400,000. Virtu KCG Holdings LLC acquired a new position in Sunesis Pharmaceuticals during the 2nd quarter worth $208,000. Vanguard Group Inc. lifted its position in Sunesis Pharmaceuticals by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock worth $1,635,000 after acquiring an additional 23,819 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its position in Sunesis Pharmaceuticals by 54.6% during the 2nd quarter. Sphera Funds Management LTD. now owns 193,212 shares of the biopharmaceutical company’s stock worth $522,000 after acquiring an additional 68,212 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.
About Sunesis Pharmaceuticals
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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