Sunesis Pharmaceuticals (SNSS) Shares Up 7.1%

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Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shot up 7.1% during trading on Tuesday . The stock traded as high as $2.41 and last traded at $2.26. 547,851 shares traded hands during mid-day trading, an increase of 119% from the average session volume of 250,357 shares. The stock had previously closed at $2.11.

Several research firms recently commented on SNSS. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Sunesis Pharmaceuticals in a research report on Thursday, March 8th. ValuEngine cut shares of Sunesis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Zacks Investment Research cut shares of Sunesis Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 14th. Finally, Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a research report on Tuesday, May 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.12.

The stock has a market capitalization of $73.55 million, a P/E ratio of -1.56 and a beta of 1.74.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. The business had revenue of $0.24 million for the quarter. equities research analysts expect that Sunesis Pharmaceuticals, Inc. will post -0.92 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in SNSS. BlackRock Inc. increased its stake in shares of Sunesis Pharmaceuticals by 9.5% during the 4th quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock worth $482,000 after purchasing an additional 11,351 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Sunesis Pharmaceuticals by 105.2% during the 4th quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock worth $463,000 after purchasing an additional 64,343 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Sunesis Pharmaceuticals by 38.4% during the 1st quarter. Wells Fargo & Company MN now owns 64,367 shares of the biopharmaceutical company’s stock worth $175,000 after purchasing an additional 17,853 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Sunesis Pharmaceuticals during the 1st quarter worth about $204,000. Finally, Millennium Management LLC increased its stake in shares of Sunesis Pharmaceuticals by 594.4% during the 1st quarter. Millennium Management LLC now owns 106,599 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 91,248 shares during the last quarter. Institutional investors own 52.23% of the company’s stock.

About Sunesis Pharmaceuticals

Sunesis Pharmaceuticals, Inc, a 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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