Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Down 35.0% in June

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 113,463 shares, a drop of 35.0% from the June 15th total of 174,691 shares. Approximately 22.7% of the company’s shares are sold short. Based on an average daily volume of 128,062 shares, the short-interest ratio is presently 0.9 days.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SBFM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.00.

Institutional Investors Weigh In On Sunshine Biopharma

Several large investors have recently made changes to their positions in the stock. Citadel Advisors LLC lifted its position in Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after acquiring an additional 14,656 shares in the last quarter. Two Sigma Investments LP bought a new position in Sunshine Biopharma during the 3rd quarter worth about $32,000. Finally, Virtu Financial LLC bought a new position in Sunshine Biopharma during the 4th quarter worth about $29,000. Institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Stock Performance

Shares of SBFM opened at $1.80 on Friday. The stock has a 50 day simple moving average of $3.06 and a 200 day simple moving average of $8.47. Sunshine Biopharma has a 52-week low of $1.80 and a 52-week high of $24.30. The firm has a market capitalization of $900,000.00, a PE ratio of -0.14 and a beta of 1.13.

Sunshine Biopharma (NASDAQ:SBFM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($1.60) by $1.35. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. The firm had revenue of $8.09 million for the quarter, compared to the consensus estimate of $9.20 million. Equities research analysts predict that Sunshine Biopharma will post -6.3 EPS for the current fiscal year.

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.