Sunshine Biopharma (NASDAQ:SBFM) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Sunshine Biopharma (NASDAQ:SBFM) to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

Sunshine Biopharma Trading Down 25.3%

NASDAQ SBFM opened at $0.32 on Wednesday. The firm has a market cap of $1.59 million, a price-to-earnings ratio of -0.25 and a beta of 1.37. The company has a 50 day moving average of $0.89 and a 200-day moving average of $1.15. Sunshine Biopharma has a 1-year low of $0.28 and a 1-year high of $2.43.

Sunshine Biopharma’s stock is going to reverse split before the market opens on 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 issued 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 company had revenue of $8.09 million during the quarter, compared to analyst estimates of $9.20 million. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. On average, analysts forecast that Sunshine Biopharma will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On Sunshine Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new stake in shares of Sunshine Biopharma during the 3rd quarter worth approximately $32,000. Citadel Advisors LLC raised its stake in shares of Sunshine Biopharma by 23.1% during the third 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 last quarter. Finally, Virtu Financial LLC bought a new position in shares of Sunshine Biopharma during the fourth quarter valued at $29,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

About Sunshine Biopharma

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.