Sunesis Pharmaceuticals (SNSS) Stock Price Down 13.5%

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS)’s share price dropped 13.5% on Monday . The company traded as low as $1.32 and last traded at $1.35. Approximately 1,689,247 shares changed hands during trading, an increase of 86% from the average daily volume of 906,220 shares. The stock had previously closed at $1.56.

SNSS has been the subject of a number of recent research reports. Zacks Investment Research raised Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research report on Saturday, January 19th. Oppenheimer set a $6.00 price objective on Sunesis Pharmaceuticals and gave the company a “buy” rating in a report on Friday, March 8th. HC Wainwright reissued a “hold” rating and issued a $0.50 price objective on shares of Sunesis Pharmaceuticals in a report on Tuesday, March 12th. Finally, ValuEngine raised Sunesis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Sunesis Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $2.33.

The firm has a market cap of $105.43 million, a P/E ratio of -1.80 and a beta of 2.66.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. On average, sell-side analysts anticipate that Sunesis Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

An institutional investor recently bought a new position in Sunesis Pharmaceuticals stock. Aisling Capital Management LP purchased a new stake in shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,600,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,092,000. Sunesis Pharmaceuticals comprises about 1.2% of Aisling Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Aisling Capital Management LP owned approximately 6.95% of Sunesis Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 22.83% of the company’s stock.

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Sunesis Pharmaceuticals Company Profile (NASDAQ:SNSS)

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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