Zacks Investment Research Lowers Sunesis Pharmaceuticals (SNSS) to Hold

Zacks Investment Research lowered shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from a buy rating to a hold rating in a research note released on Tuesday.

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. “

SNSS has been the topic of a number of other research reports. ValuEngine raised Sunesis Pharmaceuticals from a strong sell rating to a sell rating in a research report on Wednesday, May 2nd. Cowen reaffirmed a hold rating on shares of Sunesis Pharmaceuticals in a research report on Tuesday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $4.00.



SNSS stock opened at $2.24 on Tuesday. The stock has a market capitalization of $84.56 million, a price-to-earnings ratio of -1.54 and a beta of 1.84. Sunesis Pharmaceuticals has a 1 year low of $1.82 and a 1 year high of $7.69.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. equities research analysts expect that Sunesis Pharmaceuticals will post -0.92 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of SNSS. Wells Fargo & Company MN raised its position in shares of Sunesis Pharmaceuticals by 38.4% during the 1st quarter. Wells Fargo & Company MN now owns 64,367 shares of the biopharmaceutical company’s stock worth $175,000 after acquiring an additional 17,853 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of Sunesis Pharmaceuticals during the 1st quarter worth about $204,000. Millennium Management LLC raised its position in shares of Sunesis Pharmaceuticals by 594.4% during the 1st quarter. Millennium Management LLC now owns 106,599 shares of the biopharmaceutical company’s stock worth $290,000 after acquiring an additional 91,248 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sunesis Pharmaceuticals by 105.2% during the 4th quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 64,343 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Sunesis Pharmaceuticals by 9.5% during the 4th quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock worth $482,000 after acquiring an additional 11,351 shares in the last quarter. 52.24% of the stock is currently owned by institutional investors and hedge funds.

Sunesis Pharmaceuticals Company Profile

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

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