Sunshine Biopharma, Inc. (NASDAQ:SBFM) Shares Shorted: Short Interest Down 79.0% in October

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 176,303 shares, a decrease of 79.0% from the October 15th total of 840,899 shares. Currently, 82.0% of the company’s stock are sold short. Based on an average daily trading volume, of 170,382 shares, the days-to-cover ratio is currently 1.0 days.

Sunshine Biopharma Trading Down 1.6%

SBFM traded down $0.04 during trading on Thursday, hitting $2.71. The stock had a trading volume of 14,234 shares, compared to its average volume of 115,135. The firm has a market cap of $584,280.00, a PE ratio of -0.01 and a beta of 1.32. Sunshine Biopharma has a 12 month low of $2.53 and a 12 month high of $464.00. The company has a 50 day simple moving average of $10.85 and a 200-day simple moving average of $99.61.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBFM. Wall Street Zen raised Sunshine Biopharma to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sunshine Biopharma 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.