Stock analysts at Oppenheimer assumed coverage on shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) in a report issued on Thursday. The firm set a “buy” rating and a $7.00 price target on the biopharmaceutical company’s stock. Oppenheimer’s target price would indicate a potential upside of 109.58% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Thursday, August 24th. Cowen reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Thursday, November 2nd. Cantor Fitzgerald reiterated a “hold” rating and issued a $3.00 price target on shares of Sunesis Pharmaceuticals in a report on Wednesday, September 27th. Wells Fargo & Company cut shares of Sunesis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $2.70 to $2.00 in a report on Tuesday, December 5th. Finally, UBS began coverage on shares of Sunesis Pharmaceuticals in a report on Monday, November 20th. They set an “outperform” rating for the company. One equities research 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 currently has a consensus rating of “Hold” and an average target price of $3.75.
Sunesis Pharmaceuticals (NASDAQ SNSS) traded up $0.01 during trading on Thursday, hitting $3.34. 182,400 shares of the stock traded hands, compared to its average volume of 132,943. Sunesis Pharmaceuticals has a 12 month low of $1.82 and a 12 month high of $4.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of -0.34.
In other news, Director Dayton Misfeldt purchased 400,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $2.00 per share, for a total transaction of $800,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Mpm Oncology Impact Management purchased 25,300 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was purchased at an average price of $2.59 per share, with a total value of $65,527.00. The disclosure for this purchase can be found here. Insiders have purchased 506,800 shares of company stock valued at $1,091,282 in the last 90 days. 10.21% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. 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 valued at $113,000 after acquiring an additional 18,254 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Sunesis Pharmaceuticals in the second quarter valued at $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 valued at $458,000 after acquiring an additional 1,230 shares during the last quarter. 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 valued at $522,000 after acquiring an additional 68,212 shares during the last quarter. 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 valued at $1,635,000 after acquiring an additional 23,819 shares during the last quarter. 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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