Sunshine Biopharma (NASDAQ:SBFM) Issues Quarterly Earnings Results

Sunshine Biopharma (NASDAQ:SBFM) posted its quarterly earnings results on Thursday. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.05, FiscalAI reports. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. The firm had revenue of $9.26 million for the quarter, compared to analyst estimates of $8.70 million.

Sunshine Biopharma Stock Down 0.8%

Shares of Sunshine Biopharma stock traded down $0.01 during midday trading on Thursday, hitting $1.20. The company’s stock had a trading volume of 182,189 shares, compared to its average volume of 768,126. Sunshine Biopharma has a 1-year low of $1.10 and a 1-year high of $24.30. The firm has a market capitalization of $601,200.00, a P/E ratio of -0.09 and a beta of 1.16. The stock has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $7.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBFM shares. Weiss Ratings lowered Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday. Zacks Research upgraded Sunshine Biopharma to a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Institutional Investors Weigh In On Sunshine Biopharma

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Sunshine Biopharma in the 4th quarter valued at about $29,000. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma in the third quarter worth approximately $32,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Sunshine Biopharma by 23.1% during the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after purchasing an additional 14,656 shares during the period. 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.