Zacks Investment Research lowered shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “Sunesis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapeutics for oncology and other serious diseases. It has built a broad product candidate portfolio through internal discovery and in-licensing of novel cancer therapeutics. It is advancing its product candidates through in-house research and development efforts and strategic collaborations with leading pharmaceutical and biopharmaceutical companies. “

Separately, Cantor Fitzgerald downgraded Sunesis Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, December 28th.

Shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) traded up 1.18% during midday trading on Wednesday, reaching $4.29. The company’s stock had a trading volume of 16,785 shares. The company has a 50 day moving average price of $4.15 and a 200-day moving average price of $4.11. The stock’s market capitalization is $89.76 million. Sunesis Pharmaceuticals has a 52 week low of $2.63 and a 52 week high of $6.30.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its quarterly earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by $0.01. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.60 million. Sunesis Pharmaceuticals had a negative return on equity of 806.43% and a negative net margin of 1,623.12%. Sunesis Pharmaceuticals’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.91) earnings per share. On average, equities research analysts expect that Sunesis Pharmaceuticals will post ($2.48) EPS for the current year.

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Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in Sunesis Pharmaceuticals by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 110,581 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 16,000 shares during the period. Vivo Capital LLC acquired a new stake in Sunesis Pharmaceuticals during the fourth quarter worth approximately $1,810,000. Boxer Capital LLC acquired a new stake in Sunesis Pharmaceuticals during the fourth quarter worth approximately $1,901,000. Baker BROS. Advisors LP acquired a new stake in Sunesis Pharmaceuticals during the third quarter worth approximately $3,241,000. Finally, Great Point Partners LLC acquired a new stake in Sunesis Pharmaceuticals during the third quarter worth approximately $4,648,000. Hedge funds and other institutional investors own 34.30% of the company’s stock.

Sunesis Pharmaceuticals Company Profile

Sunesis Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of its pipeline of oncology therapeutics for the treatment of solid and hematologic cancers. The Company offers QINPREZO (vosaroxin), which is a product candidate for the treatment of acute myeloid leukemia (AML).

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