Sunesis Pharmaceuticals (NASDAQ:SNSS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors 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. “

Shares of SNSS stock opened at $1.95 on Wednesday. Sunesis Pharmaceuticals has a twelve month low of $1.80 and a twelve month high of $7.69. The stock has a market capitalization of $72.27 million, a P/E ratio of -1.34 and a beta of 1.84.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last announced its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Equities analysts expect that Sunesis Pharmaceuticals will post -0.89 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Sunesis Pharmaceuticals stock. Wells Fargo & Company MN grew its stake in shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) by 38.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,367 shares of the biopharmaceutical company’s stock after acquiring an additional 17,853 shares during the quarter. Wells Fargo & Company MN owned about 0.19% of Sunesis Pharmaceuticals worth $175,000 at the end of the most recent quarter. Institutional investors and hedge funds own 43.80% of the company’s stock.

Sunesis Pharmaceuticals Company Profile

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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