Sunesis Pharmaceuticals (NASDAQ:SNSS) Stock Rating Lowered by Zacks Investment Research

Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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. “

A number of other equities research analysts also recently weighed in on the stock. Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a research note on Sunday, June 16th. ValuEngine raised shares of Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reissued a “hold” rating and set a $1.50 price target on shares of Sunesis Pharmaceuticals in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $2.92.

SNSS opened at $0.64 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market cap of $70.17 million, a price-to-earnings ratio of -0.85 and a beta of 2.74. The firm has a 50 day simple moving average of $0.82 and a 200 day simple moving average of $0.96. Sunesis Pharmaceuticals has a fifty-two week low of $0.20 and a fifty-two week high of $1.99.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. As a group, analysts expect that Sunesis Pharmaceuticals will post -0.4 EPS for the current year.

In other news, major shareholder Aisling Capital Iv, Lp bought 2,500,000 shares of the stock in a transaction on Monday, July 15th. The stock was purchased at an average price of $0.60 per share, with a total value of $1,500,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.22% of the company’s stock.

A number of large investors have recently modified their holdings of SNSS. Aisling Capital Management LP increased its stake in Sunesis Pharmaceuticals by 192.3% in the first quarter. Aisling Capital Management LP now owns 7,600,000 shares of the biopharmaceutical company’s stock valued at $9,234,000 after purchasing an additional 5,000,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Sunesis Pharmaceuticals by 228.0% in the second quarter. Vanguard Group Inc. now owns 2,283,383 shares of the biopharmaceutical company’s stock valued at $1,660,000 after purchasing an additional 1,587,157 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Sunesis Pharmaceuticals in the second quarter valued at approximately $1,018,000. BlackRock Inc. increased its stake in Sunesis Pharmaceuticals by 257.3% in the second quarter. BlackRock Inc. now owns 783,059 shares of the biopharmaceutical company’s stock valued at $569,000 after purchasing an additional 563,924 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Sunesis Pharmaceuticals by 42.7% in the second quarter. Wells Fargo & Company MN now owns 1,341,151 shares of the biopharmaceutical company’s stock valued at $975,000 after purchasing an additional 401,193 shares in the last quarter. 32.85% of the stock is owned by hedge funds and other institutional investors.

About Sunesis Pharmaceuticals

Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of targeted inhibitors for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalent inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.

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