Sunesis Pharmaceuticals (SNSS) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from a hold rating to a sell rating in a report published on Friday.
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. “
Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Sunesis Pharmaceuticals from a strong sell rating to a sell rating in a research report on Wednesday, February 7th. Cantor Fitzgerald set a $3.00 price target on Sunesis Pharmaceuticals and gave the stock a hold rating in a research report on Tuesday, December 5th. Oppenheimer assumed coverage on Sunesis Pharmaceuticals in a research report on Thursday, December 14th. They issued a buy rating and a $7.00 price target on the stock. UBS Group assumed coverage on Sunesis Pharmaceuticals in a research report on Monday, November 20th. They issued an outperform rating on the stock. Finally, Wells Fargo & Co cut Sunesis Pharmaceuticals from an outperform rating to a market perform rating and decreased their price target for the stock from $2.70 to $2.00 in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $3.75.
Institutional investors have recently added to or reduced their stakes in the business. Virtu KCG Holdings LLC bought a new position in Sunesis Pharmaceuticals in the second quarter valued at about $208,000. Wells Fargo & Company MN grew its position in Sunesis Pharmaceuticals by 127.6% in the third quarter. Wells Fargo & Company MN now owns 95,247 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 53,396 shares during the last quarter. Vanguard Group Inc. grew its position in Sunesis Pharmaceuticals by 4.1% in the second quarter. Vanguard Group Inc. now owns 605,759 shares of the biopharmaceutical company’s stock valued at $1,635,000 after acquiring an additional 23,819 shares during the last quarter. Finally, BlackRock Inc. grew its position in Sunesis Pharmaceuticals by 9.5% in the fourth quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 11,351 shares during the last quarter. Hedge funds and other institutional investors own 39.46% of the company’s stock.
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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