Sunesis Pharmaceuticals (SNSS) Downgraded to “Strong Sell” at Zacks Investment Research

Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, March 14th.

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. “

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SNSS has been the topic of a number of other research reports. Cantor Fitzgerald reissued a “hold” rating and issued a $4.00 price objective on shares of Sunesis Pharmaceuticals in a research note on Thursday, March 8th. Wells Fargo raised Sunesis Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the company from $2.86 to $2.48 in a research note on Monday, December 11th. UBS initiated coverage on Sunesis Pharmaceuticals in a research note on Monday, November 20th. They set an “outperform” rating on the stock. Oppenheimer initiated coverage on Sunesis Pharmaceuticals in a research note on Thursday, December 14th. They set a “buy” rating and a $7.00 price target on the stock. Finally, ValuEngine lowered Sunesis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Sunesis Pharmaceuticals stock opened at $2.48 on Wednesday. The firm has a market capitalization of $93.77, a price-to-earnings ratio of -1.71 and a beta of 1.81. Sunesis Pharmaceuticals has a 52 week low of $1.82 and a 52 week high of $7.69.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.08. sell-side analysts expect that Sunesis Pharmaceuticals will post -1.04 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Sunesis Pharmaceuticals by 4.1% during the second quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock valued at $1,635,000 after acquiring an additional 23,819 shares during the period. Vatera Holdings LLC acquired a new position in shares of Sunesis Pharmaceuticals during the fourth quarter valued at $673,000. BlackRock Inc. lifted its stake in shares of Sunesis Pharmaceuticals by 9.5% during the fourth quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 11,351 shares during the period. Geode Capital Management LLC lifted its stake in shares of Sunesis Pharmaceuticals by 105.2% during the fourth quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock valued at $463,000 after acquiring an additional 64,343 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Sunesis Pharmaceuticals by 127.6% during the third quarter. Wells Fargo & Company MN now owns 95,247 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 53,396 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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Sunesis Pharmaceuticals Company Profile

Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. The company is developing vosaroxin, an anticancer quinolone derivative for the treatment of acute myeloid leukemia (AML).

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