Sunshine Biopharma, Inc. (NASDAQ:SBFM – Get Free Report) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 113,463 shares, a decline of 35.0% from the June 15th total of 174,691 shares. Based on an average daily trading volume, of 128,062 shares, the days-to-cover ratio is currently 0.9 days. Approximately 22.7% of the company’s stock are sold short.
Analyst Ratings Changes
Several research firms have issued reports on SBFM. Zacks Research raised Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.
Get Our Latest Stock Analysis on Sunshine Biopharma
Sunshine Biopharma Stock Down 1.6%
Sunshine Biopharma (NASDAQ:SBFM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.60) by $1.35. The company had revenue of $8.09 million for the quarter, compared to analysts’ expectations of $9.20 million. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%. On average, equities research analysts anticipate that Sunshine Biopharma will post -6.3 EPS for the current fiscal year.
Hedge Funds Weigh In On Sunshine Biopharma
A number of institutional investors have recently bought and sold shares of SBFM. Virtu Financial LLC acquired a new stake in shares of Sunshine Biopharma in the fourth quarter valued at approximately $29,000. Two Sigma Investments LP acquired a new position in shares of Sunshine Biopharma during the 3rd quarter worth approximately $32,000. Finally, Citadel Advisors LLC raised its stake in Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after acquiring an additional 14,656 shares during the period. Institutional investors and hedge funds own 41.98% of the company’s stock.
Sunshine Biopharma Company Profile
Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.
Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.
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