Sunshine Biopharma (NASDAQ:SBFM) Trading Up 4.1% – Should You Buy?

Sunshine Biopharma, Inc. (NASDAQ:SBFM) shares were up 4.1% during mid-day trading on Wednesday . The stock traded as high as $1.28 and last traded at $1.26. Approximately 49,259 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 44,742 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Aegis reissued a “buy” rating and set a $7.00 price objective on shares of Sunshine Biopharma in a report on Wednesday, October 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Sunshine Biopharma Stock Up 4.1%

The firm has a market capitalization of $6.19 million, a P/E ratio of -1.24 and a beta of 1.53. The business’s 50 day moving average is $1.36 and its two-hundred day moving average is $1.50.

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

Institutional Investors Weigh In On Sunshine Biopharma

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

About Sunshine Biopharma

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.