Viracta Therapeutics (NASDAQ:VIRX) Rating Increased to Hold at Zacks Investment Research

Viracta Therapeutics (NASDAQ:VIRXGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Viracta Therapeutics Inc. is a precision oncology company targeting virus-associated malignancies. The company is pursuing application of inducible synthetic lethality approach in other EBV-associated malignancies, such as nasopharyngeal carcinoma, gastric carcinoma and other virus-related cancers. Viracta Therapeutics Inc., formerly known as Sunesis Pharmaceuticals Inc., is based in SAN DIEGO. “

Separately, Royal Bank of Canada began coverage on Viracta Therapeutics in a research report on Tuesday, February 1st. They issued an “outperform” rating and a $10.00 price objective for the company.

VIRX stock opened at $4.06 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.59 and a quick ratio of 11.59. The business has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $4.35. The firm has a market capitalization of $152.19 million, a PE ratio of -0.66 and a beta of 2.26. Viracta Therapeutics has a 1 year low of $2.18 and a 1 year high of $13.08.

Viracta Therapeutics (NASDAQ:VIRXGet Rating) last posted its quarterly earnings results on Wednesday, March 16th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. On average, equities research analysts expect that Viracta Therapeutics will post -1.44 EPS for the current year.

In other Viracta Therapeutics news, CEO Ivor Royston sold 14,635 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $2.78, for a total transaction of $40,685.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 21,028 shares of company stock worth $58,458 over the last 90 days. 3.72% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. AlphaCentric Advisors LLC acquired a new position in Viracta Therapeutics during the fourth quarter worth $329,000. BlackRock Inc. raised its stake in shares of Viracta Therapeutics by 13.6% in the fourth quarter. BlackRock Inc. now owns 2,368,918 shares of the company’s stock valued at $8,646,000 after acquiring an additional 283,870 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Viracta Therapeutics by 629.3% in the fourth quarter. Wells Fargo & Company MN now owns 75,859 shares of the company’s stock valued at $277,000 after acquiring an additional 65,457 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Viracta Therapeutics by 12.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 192,251 shares of the company’s stock valued at $702,000 after acquiring an additional 21,057 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Viracta Therapeutics in the fourth quarter valued at $106,000. Institutional investors own 42.12% of the company’s stock.

About Viracta Therapeutics (Get Rating)

Viracta Therapeutics, Inc a clinical-stage, biomarker-directed precision oncology company focused on new medicines for the treatment of virus-associated malignancies. It develops antiviral agent valganciclovir as an oral combination therapy which is in a Phase 2 clinical trial for EBV-positive lymphomas.

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