Sunesis Pharmaceuticals (NASDAQ:SNSS) Shares Gap Down to $0.84

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Shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) gapped down before the market opened on Thursday . The stock had previously closed at $0.96, but opened at $0.84. Sunesis Pharmaceuticals shares last traded at $0.81, with a volume of 6,041,285 shares trading hands.

SNSS has been the topic of several analyst reports. HC Wainwright set a $267.00 price target on Sarepta Therapeutics and gave the company a “buy” rating in a report on Monday, June 17th. Cowen reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Zacks Investment Research downgraded HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Sunesis Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $3.08.

The firm has a 50 day simple moving average of $0.75. The company has a market cap of $53.67 million, a price-to-earnings ratio of -1.08 and a beta of 2.76.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.08. Equities analysts forecast that Sunesis Pharmaceuticals, Inc. will post -0.43 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Aisling Capital Management LP grew its stake in shares of Sunesis Pharmaceuticals by 192.3% in the first quarter. Aisling Capital Management LP now owns 7,600,000 shares of the biopharmaceutical company’s stock worth $9,234,000 after acquiring an additional 5,000,000 shares during the last quarter. Fosun International Ltd acquired a new stake in shares of Sunesis Pharmaceuticals in the first quarter worth $863,000. Finally, Algert Global LLC acquired a new stake in shares of Sunesis Pharmaceuticals in the first quarter worth $25,000. Institutional investors and hedge funds own 43.10% of the company’s stock.

About Sunesis Pharmaceuticals (NASDAQ:SNSS)

Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of targeted inhibitors for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalent inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.

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