Sunshine Biopharma (NASDAQ:SBFM) Trading Up 4.1% – Here’s Why

Sunshine Biopharma, Inc. (NASDAQ:SBFM) shares shot up 4.1% during trading on Wednesday . The company traded as high as $1.28 and last traded at $1.26. 49,259 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 44,742 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SBFM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Wednesday, October 8th. Aegis reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Sunshine Biopharma in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.00.

Sunshine Biopharma Price Performance

The firm has a market capitalization of $6.19 million, a PE ratio of -1.24 and a beta of 1.53. The firm has a fifty day moving average price of $1.36 and a 200 day moving average price of $1.50.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $9.42 million during the quarter, compared to analysts’ expectations of $11.10 million. Sunshine Biopharma had a negative return on equity of 24.96% and a negative net margin of 16.06%.

Institutional Investors Weigh In On Sunshine Biopharma

An institutional investor recently bought a new position in Sunshine Biopharma stock. Two Sigma Investments LP purchased a new stake in Sunshine Biopharma, Inc. (NASDAQ:SBFM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,399 shares of the company’s stock, valued at approximately $32,000. Two Sigma Investments LP owned approximately 0.44% of Sunshine Biopharma as of its most recent filing with the Securities and Exchange Commission. 41.98% of the stock is currently owned by institutional investors and hedge funds.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.

Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.