Sunesis Pharmaceuticals (SNSS) Trading Up 9.5%

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)’s share price was up 9.5% during trading on Friday . The stock traded as high as $0.48 and last traded at $0.46. Approximately 1,069,170 shares traded hands during trading, an increase of 403% from the average daily volume of 212,712 shares. The stock had previously closed at $0.42.

Separately, Zacks Investment Research raised shares of Sunesis Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective for the company in a research note on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Sunesis Pharmaceuticals presently has an average rating of “Buy” and an average price target of $3.75.

The company has a market cap of $18.34 million, a P/E ratio of -0.32 and a beta of 2.02.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. As a group, sell-side analysts anticipate that Sunesis Pharmaceuticals, Inc. will post -0.82 EPS for the current year.

A hedge fund recently raised its stake in Sunesis Pharmaceuticals stock. Millennium Management LLC boosted its position in shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) by 594.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,599 shares of the biopharmaceutical company’s stock after acquiring an additional 91,248 shares during the period. Millennium Management LLC owned 0.31% of Sunesis Pharmaceuticals worth $290,000 as of its most recent SEC filing. 44.15% of the stock is currently owned by institutional investors and hedge funds.

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About Sunesis Pharmaceuticals (NASDAQ:SNSS)

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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