Zacks Investment Research upgraded shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $2.50 target price on the biopharmaceutical company’s stock.
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. “
Separately, Cantor Fitzgerald reaffirmed a hold rating and issued a $3.00 price objective on shares of Sunesis Pharmaceuticals in a research note on Tuesday, May 2nd.
Sunesis Pharmaceuticals (SNSS) opened at 2.10 on Thursday. Sunesis Pharmaceuticals has a 52 week low of $2.08 and a 52 week high of $5.70. The firm’s market cap is $49.38 million. The firm’s 50-day moving average price is $2.46 and its 200 day moving average price is $3.29.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.35. During the same period in the prior year, the business posted ($0.12) EPS. Equities analysts forecast that Sunesis Pharmaceuticals will post ($1.61) earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the company. TFS Capital LLC acquired a new position in Sunesis Pharmaceuticals during the first quarter worth $158,000. Renaissance Technologies LLC raised its position in Sunesis Pharmaceuticals by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 110,581 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 16,000 shares during the period. Neuberger Berman Group LLC raised its position in Sunesis Pharmaceuticals by 16.6% in the first quarter. Neuberger Berman Group LLC now owns 140,555 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 20,000 shares during the period. Balyasny Asset Management LLC acquired a new position in Sunesis Pharmaceuticals during the second quarter worth $5,400,000. Finally, Virtu KCG Holdings LLC acquired a new position in Sunesis Pharmaceuticals during the second quarter worth $208,000. 49.86% of the stock is owned by hedge funds and other institutional investors.
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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