Zacks Investment Research Lowers Sunesis Pharmaceuticals, Inc. (SNSS) to Hold

Zacks Investment Research downgraded shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) from a buy rating to a hold rating in a report issued on Wednesday morning.

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 cut Sunesis Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, December 28th.

Sunesis Pharmaceuticals (NASDAQ:SNSS) opened at 4.23 on Wednesday. Sunesis Pharmaceuticals has a 52 week low of $2.63 and a 52 week high of $6.30. The firm has a 50-day moving average price of $4.15 and a 200 day moving average price of $4.11. The firm’s market capitalization is $88.51 million.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.01. Sunesis Pharmaceuticals had a negative net margin of 1,623.12% and a negative return on equity of 806.43%. The business earned $0.68 million during the quarter, compared to analysts’ expectations of $0.60 million. During the same period in the previous year, the business earned ($0.91) EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Sunesis Pharmaceuticals will post ($2.48) earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC acquired a new stake in Sunesis Pharmaceuticals during the third quarter valued at approximately $4,648,000. Baker BROS. Advisors LP acquired a new stake in Sunesis Pharmaceuticals during the third quarter valued at approximately $3,241,000. Boxer Capital LLC acquired a new stake in Sunesis Pharmaceuticals during the fourth quarter valued at approximately $1,901,000. Vivo Capital LLC acquired a new stake in Sunesis Pharmaceuticals during the fourth quarter valued at approximately $1,810,000. Finally, Renaissance Technologies LLC raised its stake in Sunesis Pharmaceuticals by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 110,581 shares of the biopharmaceutical company’s stock valued at $400,000 after buying an additional 16,000 shares in the last quarter. 34.30% of the stock is currently owned by 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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