Sunesis Pharmaceuticals (SNSS) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from a hold rating to a strong-buy rating in a report published on Wednesday. Zacks Investment Research currently has $2.50 price target 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. “

Shares of SNSS stock traded up $0.03 during trading hours on Wednesday, hitting $1.94. 47,001 shares of the company were exchanged, compared to its average volume of 206,442. Sunesis Pharmaceuticals has a 52-week low of $1.80 and a 52-week high of $7.69. The firm has a market cap of $72.27 million, a P/E ratio of -1.34 and a beta of 1.84.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Equities research analysts anticipate that Sunesis Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sunesis Pharmaceuticals stock. Wells Fargo & Company MN boosted its holdings in Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) by 38.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,367 shares of the biopharmaceutical company’s stock after buying an additional 17,853 shares during the period. Wells Fargo & Company MN owned approximately 0.19% of Sunesis Pharmaceuticals worth $175,000 as of its most recent filing with the Securities and Exchange Commission. 43.80% of the stock is owned by institutional investors and hedge funds.

About Sunesis Pharmaceuticals

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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