Sunshine Biopharma (NASDAQ:SBFM) Shares Down 1.9% – Here’s What Happened

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s share price fell 1.9% during trading on Thursday . The company traded as low as $1.49 and last traded at $1.51. 39,099 shares traded hands during trading, a decline of 30% from the average session volume of 56,196 shares. The stock had previously closed at $1.54.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Sunshine Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.00.

Sunshine Biopharma Stock Down 1.9%

The firm has a 50-day moving average of $1.46 and a two-hundred day moving average of $1.52. The company has a market capitalization of $6.88 million, a PE ratio of -0.01 and a beta of 1.48.

Sunshine Biopharma (NASDAQ:SBFM) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.28). The company had revenue of $9.41 million for the quarter, compared to analysts’ expectations of $12.10 million. Sunshine Biopharma had a negative net margin of 17.35% and a negative return on equity of 26.04%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sunshine Biopharma stock. Altium Capital Management LLC bought a new position in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,466 shares of the company’s stock, valued at approximately $96,000. Sunshine Biopharma accounts for approximately 0.2% of Altium Capital Management LLC’s holdings, making the stock its 21st biggest position. Altium Capital Management LLC owned approximately 1.86% of Sunshine Biopharma as of its most recent SEC filing. Institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc, a pharmaceutical company, focuses on the research and development of life-saving medicines in various therapeutic areas, including oncology and antivirals in the United States and Canada. It operates in two segments, Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products.