Wells Fargo & Company cut shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday morning. The firm currently has $2.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $2.70.
Other analysts also recently issued reports about the company. Oppenheimer assumed coverage on Sunesis Pharmaceuticals in a research report on Tuesday, November 21st. They issued an outperform rating and a $7.00 price target for the company. UBS assumed coverage on Sunesis Pharmaceuticals in a research report on Monday, November 20th. They issued an outperform rating for the company. Cowen restated a hold rating on shares of Sunesis Pharmaceuticals in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Sunesis Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded Sunesis Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $3.63.
Sunesis Pharmaceuticals (NASDAQ SNSS) traded down $0.31 during midday trading on Tuesday, hitting $2.39. The stock had a trading volume of 520,700 shares, compared to its average volume of 121,977. Sunesis Pharmaceuticals has a 52-week low of $1.82 and a 52-week high of $4.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of -0.34.
Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). During the same period in the prior year, the company posted ($0.62) earnings per share. sell-side analysts expect that Sunesis Pharmaceuticals will post -1.58 EPS for the current year.
In other Sunesis Pharmaceuticals news, Director Dayton Misfeldt bought 400,000 shares of Sunesis Pharmaceuticals stock in a transaction on Friday, October 27th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $800,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Mpm Oncology Impact Management bought 25,300 shares of Sunesis Pharmaceuticals stock in a transaction on Thursday, November 2nd. The stock was acquired at an average price of $2.59 per share, for a total transaction of $65,527.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 506,800 shares of company stock worth $1,091,282. Insiders own 10.21% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Sunesis Pharmaceuticals by 1.1% during the first quarter. Renaissance Technologies LLC now owns 111,811 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 1,230 shares during the period. Wells Fargo & Company MN increased its stake in shares of Sunesis Pharmaceuticals by 77.4% during the second quarter. Wells Fargo & Company MN now owns 41,851 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 18,254 shares during the period. Vanguard Group Inc. increased its stake in shares of Sunesis Pharmaceuticals by 4.1% during the second quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock valued at $1,635,000 after buying an additional 23,819 shares during the period. Sphera Funds Management LTD. increased its stake in shares of Sunesis Pharmaceuticals by 54.6% during the second quarter. Sphera Funds Management LTD. now owns 193,212 shares of the biopharmaceutical company’s stock valued at $522,000 after buying an additional 68,212 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Sunesis Pharmaceuticals during the second quarter valued at $208,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.
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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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