Sunshine Biopharma (NASDAQ:SBFM) Stock Rating Upgraded by Zacks Research

Sunshine Biopharma (NASDAQ:SBFM) was upgraded by research analysts at Zacks Research to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.00.

Sunshine Biopharma Trading Down 25.3%

SBFM opened at $0.32 on Wednesday. The firm has a market capitalization of $1.59 million, a PE ratio of -0.25 and a beta of 1.37. Sunshine Biopharma has a twelve month low of $0.28 and a twelve month high of $2.43. The firm’s 50-day moving average price is $0.89 and its 200 day moving average price is $1.15.

Sunshine Biopharma shares are set to reverse split on the morning of Monday, June 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, May 31st.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $8.09 million for the quarter, compared to analyst estimates of $9.20 million. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%. As a group, analysts predict that Sunshine Biopharma will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunshine Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Sunshine Biopharma in the 4th quarter valued at about $29,000. Two Sigma Investments LP acquired a new position in Sunshine Biopharma in the 3rd quarter valued at about $32,000. Finally, Citadel Advisors LLC boosted its holdings 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 purchasing an additional 14,656 shares during the last quarter. 41.98% of the stock is currently owned by institutional investors and hedge funds.

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.