Sunshine Biopharma (NASDAQ:SBFM) Posts Earnings Results, Beats Expectations By $0.05 EPS

Sunshine Biopharma (NASDAQ:SBFM) posted its quarterly earnings results on Thursday. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.05, FiscalAI reports. The business had revenue of $9.26 million for the quarter, compared to analyst estimates of $8.70 million. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%.

Sunshine Biopharma Stock Performance

Shares of SBFM traded down $0.01 during mid-day trading on Thursday, reaching $1.20. The company had a trading volume of 181,682 shares, compared to its average volume of 768,077. The company’s 50 day simple moving average is $1.87 and its 200 day simple moving average is $7.01. Sunshine Biopharma has a 1-year low of $1.10 and a 1-year high of $24.30. The company has a market capitalization of $601,200.00, a price-to-earnings ratio of -0.09 and a beta of 1.16.

Analyst Ratings Changes

Several research analysts have commented on SBFM shares. Zacks Research upgraded shares of Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Hedge Funds Weigh In On Sunshine Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new stake in shares of Sunshine Biopharma during the third quarter worth $32,000. Citadel Advisors LLC boosted its holdings in shares of Sunshine Biopharma by 23.1% during 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Sunshine Biopharma during the 4th quarter valued at $29,000. Institutional investors 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.