Sunesis Pharmaceuticals (NASDAQ:SNSS) was upgraded by stock analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a $2.48 target price on the biopharmaceutical company’s stock, down from their previous target price of $2.86. Wells Fargo & Company’s target price indicates a potential downside of 27.91% from the company’s previous close.
A number of other research analysts have also recently commented on the stock. Cantor Fitzgerald set a $3.00 price target on shares of Sunesis Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, December 5th. Oppenheimer initiated coverage on shares of Sunesis Pharmaceuticals in a report on Tuesday, November 21st. They issued an “outperform” rating and a $7.00 price target on the stock. UBS initiated coverage on shares of Sunesis Pharmaceuticals in a report on Monday, November 20th. They issued an “outperform” rating on the stock. Zacks Investment Research cut shares of Sunesis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Cowen restated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Sunesis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Sunesis Pharmaceuticals (SNSS) traded up $0.96 during mid-day trading on Monday, reaching $3.44. 2,390,408 shares of the company’s stock were exchanged, compared to its average volume of 131,449. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of -0.34. Sunesis Pharmaceuticals has a fifty-two week low of $1.82 and a fifty-two week high of $4.45.
In related news, major shareholder Mpm Oncology Impact Management purchased 81,500 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $2.77 per share, for a total transaction of $225,755.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dayton Misfeldt purchased 400,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was 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 bought 506,800 shares of company stock worth $1,091,282. Company insiders own 10.21% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in Sunesis Pharmaceuticals by 77.4% in the second quarter. Wells Fargo & Company MN now owns 41,851 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 18,254 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Sunesis Pharmaceuticals in the second quarter worth about $208,000. Renaissance Technologies LLC lifted its stake in Sunesis Pharmaceuticals by 1.1% in the first quarter. Renaissance Technologies LLC now owns 111,811 shares of the biopharmaceutical company’s stock worth $458,000 after acquiring an additional 1,230 shares during the period. Sphera Funds Management LTD. lifted its stake in Sunesis Pharmaceuticals by 54.6% in the second 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 period. Finally, Vanguard Group Inc. lifted its stake in Sunesis Pharmaceuticals by 4.1% in the second 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 period. Hedge funds and other institutional investors own 38.43% of the company’s stock.
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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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