Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) hit a new 52-week low on Tuesday . The company traded as low as $1.10 and last traded at $1.12, with a volume of 2555 shares traded. The stock had previously closed at $1.13.

Separately, Zacks Investment Research upgraded Sunesis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research note on Saturday, August 11th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $3.75.

The company has a market capitalization of $46.03 million, a price-to-earnings ratio of -0.77 and a beta of 2.10.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last released its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. On average, equities research analysts anticipate that Sunesis Pharmaceuticals, Inc. will post -0.82 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sunesis Pharmaceuticals stock. Wells Fargo & Company MN raised its holdings in Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) by 38.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,367 shares of the biopharmaceutical company’s stock after buying 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 reporting period. 41.97% of the stock is owned by hedge funds and other institutional investors.

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About Sunesis Pharmaceuticals (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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