Zacks Investment Research upgraded shares of Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS) from a hold rating to a buy rating in a research report report published on Thursday morning. The firm currently has $4.50 price objective on the biopharmaceutical company’s stock.

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. “

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Co. raised shares of Sunesis Pharmaceuticals from a market perform rating to an outperform rating in a research report on Friday, July 29th. Cowen and Company reaffirmed a hold rating on shares of Sunesis Pharmaceuticals in a research report on Thursday, November 3rd. Finally, Cantor Fitzgerald reaffirmed a buy rating on shares of Sunesis Pharmaceuticals in a research report on Monday, September 12th.

Shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) traded up 0.97% on Thursday, hitting $4.15. 14,601 shares of the stock traded hands. The firm’s 50-day moving average is $4.11 and its 200 day moving average is $3.77. Sunesis Pharmaceuticals has a 12-month low of $2.63 and a 12-month high of $6.30. The firm’s market cap is $86.64 million.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Sunesis Pharmaceuticals had a negative net margin of 1,623.12% and a negative return on equity of 806.43%. The business had revenue of $0.60 million for the quarter, compared to analysts’ expectations of $0.60 million. During the same period last year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Equities research analysts forecast that Sunesis Pharmaceuticals will post ($2.63) EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of SNSS. Vanguard Group Inc. raised its stake in Sunesis Pharmaceuticals by 0.9% in the second quarter. Vanguard Group Inc. now owns 2,499,581 shares of the biopharmaceutical company’s stock worth $1,369,000 after buying an additional 21,209 shares in the last quarter. BVF Inc. IL raised its stake in Sunesis Pharmaceuticals by 0.8% in the first quarter. BVF Inc. IL now owns 4,813,294 shares of the biopharmaceutical company’s stock worth $2,599,000 after buying an additional 35,913 shares in the last quarter. Baker BROS. Advisors LP purchased a new stake in Sunesis Pharmaceuticals during the third quarter worth about $3,241,000. Great Point Partners LLC purchased a new stake in Sunesis Pharmaceuticals during the third quarter worth about $4,648,000. Finally, First Eagle Investment Management LLC purchased a new stake in Sunesis Pharmaceuticals during the second quarter worth about $822,000.

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).

5 Day Chart for NASDAQ:SNSS

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