Sunesis Pharmaceuticals (NASDAQ:SNSS) Shares Up 6.8%

Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shot up 6.8% on Friday . The stock traded as high as $0.92 and last traded at $0.79, 1,043,600 shares changed hands during mid-day trading. An increase of 10% from the average session volume of 952,443 shares. The stock had previously closed at $0.74.

Several research firms have recently weighed in on SNSS. Zacks Investment Research raised Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, May 15th. HC Wainwright reissued a “hold” rating and issued a $1.50 price objective on shares of Sunesis Pharmaceuticals in a report on Friday. ValuEngine raised Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Sunesis Pharmaceuticals presently has an average rating of “Hold” and an average target price of $2.92.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.65 and a current ratio of 2.27. The firm has a 50 day moving average of $0.76. The company has a market cap of $53.67 million, a price-to-earnings ratio of -1.05 and a beta of 2.79.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Equities research analysts anticipate that Sunesis Pharmaceuticals, Inc. will post -0.41 EPS for the current year.

In related news, major shareholder Aisling Capital Iv, Lp purchased 2,500,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was acquired at an average price of $0.60 per share, for a total transaction of $1,500,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.22% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in Sunesis Pharmaceuticals during the 1st quarter worth approximately $25,000. Fosun International Ltd purchased a new position in Sunesis Pharmaceuticals during the 1st quarter worth approximately $863,000. Aisling Capital Management LP raised its position in Sunesis Pharmaceuticals by 192.3% during the 1st quarter. Aisling Capital Management LP now owns 7,600,000 shares of the biopharmaceutical company’s stock worth $9,234,000 after buying an additional 5,000,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Sunesis Pharmaceuticals by 42.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,341,151 shares of the biopharmaceutical company’s stock worth $975,000 after buying an additional 401,193 shares during the last quarter. Institutional investors and hedge funds own 43.08% of the company’s stock.

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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