Sunesis Pharmaceuticals, Inc. (SNSS) Raised to “Buy” at Zacks Investment Research

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, May 11th. The brokerage currently has a $3.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 26.81% from the stock’s current price.

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 reissued a “hold” rating and set a $3.00 price target on shares of Sunesis Pharmaceuticals in a research note on Tuesday, May 2nd.

Sunesis Pharmaceuticals (SNSS) traded down 3.16% during trading on Thursday, reaching $2.76. 28,329 shares of the company were exchanged. The company’s market capitalization is $59.23 million. The firm’s 50-day moving average is $3.10 and its 200 day moving average is $3.75. Sunesis Pharmaceuticals has a one year low of $2.73 and a one year high of $6.30.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.36. The business had revenue of $0.67 million for the quarter, compared to analysts’ expectations of $1.57 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. On average, analysts anticipate that Sunesis Pharmaceuticals will post ($2.08) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great Point Partners LLC acquired a new position in Sunesis Pharmaceuticals during the third quarter valued at approximately $4,648,000. Baker BROS. Advisors LP acquired a new position in Sunesis Pharmaceuticals during the third quarter valued at approximately $3,241,000. Renaissance Technologies LLC increased its position 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 during the period. Boxer Capital LLC acquired a new position in Sunesis Pharmaceuticals during the fourth quarter valued at approximately $1,901,000. Finally, Vivo Capital LLC acquired a new position in Sunesis Pharmaceuticals during the fourth quarter valued at approximately $1,810,000. 55.47% of the stock is currently owned by hedge funds and other 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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