Sunesis Pharmaceuticals (NASDAQ:SNSS) Stock Price Down 7.9%

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) fell 7.9% during mid-day trading on Thursday . The stock traded as low as $0.20 and last traded at $0.35, 28,081,662 shares changed hands during trading. An increase of 2,654% from the average session volume of 1,019,787 shares. The stock had previously closed at $0.38.

A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a report on Saturday, November 16th. HC Wainwright restated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Wednesday, November 13th. Cowen restated a “hold” rating on shares of Sunesis Pharmaceuticals in a research report on Thursday. Finally, ValuEngine upgraded Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $2.67.

The firm has a fifty day moving average price of $0.50 and a 200 day moving average price of $0.73. The company has a current ratio of 4.56, a quick ratio of 4.56 and a debt-to-equity ratio of 0.02. The firm has a market cap of $47.87 million, a PE ratio of -0.47 and a beta of 2.67.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. As a group, equities analysts predict that Sunesis Pharmaceuticals, Inc. will post -0.28 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of SNSS. Wells Fargo & Company MN grew its stake in shares of Sunesis Pharmaceuticals by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,341,151 shares of the biopharmaceutical company’s stock valued at $975,000 after buying an additional 401,193 shares during the period. Northern Trust Corp raised its position in shares of Sunesis Pharmaceuticals by 54.8% during the 2nd quarter. Northern Trust Corp now owns 165,769 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 58,653 shares during the period. BlackRock Inc. raised its position in shares of Sunesis Pharmaceuticals by 257.3% during the 2nd quarter. BlackRock Inc. now owns 783,059 shares of the biopharmaceutical company’s stock valued at $569,000 after buying an additional 563,924 shares during the period. A.R.T. Advisors LLC lifted its holdings in Sunesis Pharmaceuticals by 33.9% in the second quarter. A.R.T. Advisors LLC now owns 98,842 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 25,042 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 acquiring an additional 1,587,157 shares during the last quarter. 53.06% of the stock is currently owned by institutional investors.

About Sunesis Pharmaceuticals (NASDAQ:SNSS)

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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