Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “Sunesis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics for oncology and other serious diseases. It has built a broad product candidate portfolio through internal discovery and in-licensing of novel cancer therapeutics. It is advancing its product candidates through in-house research and development efforts and strategic collaborations with leading pharmaceutical and biopharmaceutical companies. “
Several other brokerages have also commented on SNSS. ValuEngine raised Sunesis Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Oppenheimer started coverage on Sunesis Pharmaceuticals in a research note on Thursday, December 14th. They issued a “buy” rating and a $7.00 price objective on the stock. UBS Group started coverage on Sunesis Pharmaceuticals in a research note on Monday, November 20th. They issued an “outperform” rating on the stock. Cantor Fitzgerald set a $3.00 target price on Sunesis Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, December 5th. Finally, Wells Fargo & Co downgraded Sunesis Pharmaceuticals from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $2.70 to $2.00 in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.75.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNSS. Virtu KCG Holdings LLC bought a new stake in Sunesis Pharmaceuticals in the second quarter valued at about $208,000. Wells Fargo & Company MN increased 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 valued at $185,000 after purchasing an additional 53,396 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 purchasing an additional 23,819 shares during the last quarter. Institutional investors and hedge funds own 39.46% of the company’s stock.
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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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