Sunesis Pharmaceuticals, Inc. (SNSS) Cut to “Sell” at Zacks Investment Research

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, July 11th.

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

Shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) traded up 0.43% during mid-day trading on Tuesday, hitting $2.32. 65,682 shares of the stock traded hands. The company’s market cap is $54.55 million. The stock has a 50 day moving average price of $2.64 and a 200-day moving average price of $3.44. Sunesis Pharmaceuticals has a one year low of $2.19 and a one year high of $6.30.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.35. During the same period in the previous year, the firm posted ($0.12) EPS. On average, analysts forecast that Sunesis Pharmaceuticals will post ($1.61) earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Sunesis Pharmaceuticals by 1.1% in the first quarter. Renaissance Technologies LLC now owns 111,811 shares of the biopharmaceutical company’s stock worth $458,000 after buying an additional 1,230 shares in the last quarter. Wells Fargo & Company MN boosted its position in Sunesis Pharmaceuticals by 77.4% in the second quarter. Wells Fargo & Company MN now owns 41,851 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 18,254 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Sunesis Pharmaceuticals by 16.6% in the first quarter. Neuberger Berman Group LLC now owns 140,555 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 20,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Sunesis Pharmaceuticals by 4.1% in the second quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock worth $1,635,000 after buying an additional 23,819 shares in the last quarter. Finally, TFS Capital LLC bought a new position in Sunesis Pharmaceuticals during the first quarter worth $158,000. Hedge funds and other institutional investors own 50.46% of the company’s stock.

Sunesis Pharmaceuticals Company Profile

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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