Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday.
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. “
Other equities analysts have also recently issued reports about the company. ValuEngine raised Sunesis Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 7th. Cantor Fitzgerald set a $3.00 price objective on Sunesis Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, December 5th. Oppenheimer assumed coverage on Sunesis Pharmaceuticals in a report on Thursday, December 14th. They set a “buy” rating and a $7.00 price objective for the company. UBS Group assumed coverage on Sunesis Pharmaceuticals in a report on Monday, November 20th. They set an “outperform” rating for the company. Finally, Wells Fargo & Co cut Sunesis Pharmaceuticals from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $2.70 to $2.00 in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $4.00.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.08. research analysts anticipate that Sunesis Pharmaceuticals will post -1.01 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Sunesis Pharmaceuticals by 9.5% during the fourth quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock worth $482,000 after purchasing an additional 11,351 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of 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 last quarter. Vanguard Group Inc. raised its holdings in shares of 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Sunesis Pharmaceuticals by 105.2% in the fourth quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 64,343 shares during the last quarter. Finally, Vatera Holdings LLC acquired a new position in shares of Sunesis Pharmaceuticals in the fourth quarter worth $673,000. 53.20% of the stock is owned by hedge funds and other institutional investors.
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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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