Zacks Investment Research downgraded shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

Several other brokerages also recently weighed in on SNSS. ValuEngine upgraded shares of Sunesis Pharmaceuticals from a strong sell rating to a sell rating in a research note on Wednesday, May 2nd. Cowen restated a hold rating on shares of Sunesis Pharmaceuticals in a research note on Tuesday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $4.00.

SNSS traded down $0.13 during trading on Tuesday, hitting $1.93. The stock had a trading volume of 3,212 shares, compared to its average volume of 233,051. The company has a market cap of $84.56 million, a price-to-earnings ratio of -1.42 and a beta of 1.84. Sunesis Pharmaceuticals has a twelve month low of $1.82 and a twelve month high of $7.69.

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 Thomson Reuters’ consensus estimate of ($0.24) by $0.04. research analysts anticipate that Sunesis Pharmaceuticals will post -0.92 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Sunesis Pharmaceuticals by 9.5% in the fourth quarter. BlackRock Inc. now owns 130,573 shares of the biopharmaceutical company’s stock valued at $482,000 after acquiring an additional 11,351 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Sunesis Pharmaceuticals by 38.4% in the first quarter. Wells Fargo & Company MN now owns 64,367 shares of the biopharmaceutical company’s stock worth $175,000 after buying an additional 17,853 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sunesis Pharmaceuticals by 105.2% in the fourth quarter. Geode Capital Management LLC now owns 125,489 shares of the biopharmaceutical company’s stock worth $463,000 after buying an additional 64,343 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Sunesis Pharmaceuticals in the first quarter worth $204,000. Finally, Millennium Management LLC raised its holdings in shares of Sunesis Pharmaceuticals by 594.4% in the first quarter. Millennium Management LLC now owns 106,599 shares of the biopharmaceutical company’s stock worth $290,000 after buying an additional 91,248 shares during the last quarter. Institutional investors own 52.24% 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.

Further Reading: Marijuana Stocks

Get a free copy of the Zacks research report on Sunesis Pharmaceuticals (SNSS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sunesis Pharmaceuticals (NASDAQ:SNSS)

Receive News & Ratings for Sunesis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunesis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.