Zacks Investment Research Downgrades Sunesis Pharmaceuticals (SNSS) to Hold

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Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Several other equities analysts have also recently weighed in on the stock. ValuEngine raised shares of Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. HC Wainwright assumed coverage on shares of Sunesis Pharmaceuticals in a research note on Thursday, December 20th. They set a “neutral” rating and a $0.50 price target for the company. Five investment analysts have rated the stock with a hold rating, Sunesis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $1.67.

Shares of SNSS opened at $0.50 on Friday. The company has a market cap of $19.08 million, a PE ratio of -0.35 and a beta of 2.69. Sunesis Pharmaceuticals has a twelve month low of $0.20 and a twelve month high of $7.69.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. On average, equities research analysts predict that Sunesis Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.

Sunesis Pharmaceuticals Company Profile

Sunesis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalently binding inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.

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