Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Large Decline in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 23,410 shares, a decrease of 73.1% from the August 31st total of 86,934 shares. Based on an average daily trading volume, of 121,189 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.6% of the shares of the stock are short sold.

Sunshine Biopharma Stock Up 5.3%

SBFM stock opened at $0.84 on Friday. The stock has a market capitalization of $3.63 million, a price-to-earnings ratio of -0.08 and a beta of 1.17. The stock’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $4.63. Sunshine Biopharma has a 52-week low of $0.78 and a 52-week high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.05. The company had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million. Sunshine Biopharma had a negative net margin of 17.94% and a negative return on equity of 26.36%. As a group, analysts anticipate that Sunshine Biopharma will post -1.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday. Wall Street Zen upgraded shares of Sunshine Biopharma to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sunshine Biopharma currently has an average rating of “Hold” and a consensus target price of $70.00.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc (NASDAQ:SBFM) is a pharmaceutical and biotechnology company focused on the development of therapies for cancer and other serious diseases. Its research and development activities are centered on proprietary drug candidates intended to address unmet medical needs.

The company’s lead oncology candidate is Adva-27a, a small-molecule topoisomerase II inhibitor being investigated for potential use against advanced solid tumors, including certain cancers that may be resistant to existing treatments.