Sunshine Biopharma (NASDAQ:SBFM) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Sunshine Biopharma (NASDAQ:SBFM) posted its quarterly earnings data on Thursday. The company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.05, FiscalAI reports. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. The company had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million.

Sunshine Biopharma Stock Performance

SBFM stock opened at $1.20 on Friday. Sunshine Biopharma has a 52 week low of $1.10 and a 52 week high of $24.30. The firm’s fifty day moving average is $1.85 and its 200 day moving average is $6.94. The firm has a market cap of $600,000.00, a P/E ratio of -0.09 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings cut Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.00.

Institutional Trading of Sunshine Biopharma

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Sunshine Biopharma during the fourth quarter valued at about $29,000. Two Sigma Investments LP purchased a new position in shares of Sunshine Biopharma in the third quarter worth about $32,000. Finally, Citadel Advisors LLC lifted its stake in shares of 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 during the last quarter. 41.98% of the stock is currently owned by hedge funds and other institutional investors.

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.