Sunshine Biopharma, Inc. (NASDAQ:SBFM) Shares Shorted: Short Interest Up 539.6% in October

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 840,899 shares, a growth of 539.6% from the September 30th total of 131,478 shares. Approximately 19.8% of the company’s shares are short sold. Based on an average daily volume of 28,786,521 shares, the short-interest ratio is presently 0.0 days.

Sunshine Biopharma Stock Performance

SBFM traded down $0.03 during trading on Thursday, hitting $3.08. 82,423 shares of the stock were exchanged, compared to its average volume of 117,400. The firm has a 50 day simple moving average of $14.97 and a 200 day simple moving average of $111.92. The firm has a market cap of $665,928.00, a price-to-earnings ratio of -0.02 and a beta of 1.20. Sunshine Biopharma has a 1 year low of $2.58 and a 1 year high of $464.00.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($23.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($24.00) by $1.00. The business had revenue of $9.26 million for the quarter, compared to the consensus estimate of $8.70 million. Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%. As a group, equities analysts anticipate that Sunshine Biopharma will post -39.00 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBFM. Weiss Ratings raised Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen raised shares of Sunshine Biopharma to a “hold” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

About Sunshine Biopharma

Sunshine Biopharma, Inc is a biotechnology and pharmaceutical company focused on developing and commercializing therapies for cancer and other medical conditions. Its lead oncology candidate, Adva-27a, is an investigational small-molecule drug designed to inhibit topoisomerase II, an enzyme involved in cancer-cell replication. The company has studied the compound in preclinical models, including models of breast cancer and multidrug-resistant tumors.

In addition to its drug-development activities, Sunshine Biopharma has expanded into the pharmaceutical products business through its Canadian operations.