Sunshine Biopharma (NASDAQ:SBFM) Releases Earnings Results

Sunshine Biopharma (NASDAQ:SBFM) released its quarterly earnings data on Wednesday. The company reported ($0.25) earnings per share for the quarter, Zacks reports. Sunshine Biopharma had a negative return on equity of 27.14% and a negative net margin of 17.86%.

Sunshine Biopharma Stock Down 37.1%

SBFM traded down $0.39 during trading hours on Wednesday, reaching $0.66. 479,239 shares of the company’s stock traded hands, compared to its average volume of 46,347. The firm has a 50-day moving average price of $1.05 and a 200 day moving average price of $1.27. Sunshine Biopharma has a 52-week low of $0.66 and a 52-week high of $2.43. The firm has a market capitalization of $3.24 million, a PE ratio of -0.45 and a beta of 1.37.

Institutional Investors Weigh In On Sunshine Biopharma

Several hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC lifted its holdings in shares of Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after buying an additional 14,656 shares during the period. Two Sigma Investments LP purchased a new stake in Sunshine Biopharma in the third quarter valued at about $32,000. Finally, Virtu Financial LLC acquired a new stake in Sunshine Biopharma in the 4th quarter worth approximately $29,000. 41.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

About Sunshine Biopharma

Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.

Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.