Sunshine Biopharma (NASDAQ:SBFM) Shares Down 2.4% – Should You Sell?

Sunshine Biopharma, Inc. (NASDAQ:SBFM) shares fell 2.4% during mid-day trading on Monday . The stock traded as low as $1.19 and last traded at $1.23. 119,527 shares changed hands during mid-day trading, an increase of 153% from the average session volume of 47,188 shares. The stock had previously closed at $1.26.

Analyst Ratings Changes

SBFM has been the subject of several recent research reports. Aegis reissued a “buy” rating and set a $7.00 target price on shares of Sunshine Biopharma in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Sunshine Biopharma Trading Down 2.4%

The company’s 50-day moving average is $1.54 and its 200 day moving average is $1.53. The firm has a market cap of $6.04 million, a PE ratio of -1.21 and a beta of 1.52.

Sunshine Biopharma (NASDAQ:SBFM) last announced its earnings results on Thursday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The firm had revenue of $9.42 million for the quarter, compared to analyst estimates of $11.10 million. Sunshine Biopharma had a negative net margin of 16.06% and a negative return on equity of 24.96%.

Hedge Funds Weigh In On Sunshine Biopharma

A hedge fund recently raised its stake in Sunshine Biopharma stock. Citadel Advisors LLC increased its stake in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,087 shares of the company’s stock after purchasing an additional 14,656 shares during the quarter. Citadel Advisors LLC owned approximately 1.59% of Sunshine Biopharma worth $116,000 as of its most recent filing with the SEC. 41.98% of the stock is currently owned by institutional investors and hedge funds.

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.