Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Large Decrease in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 23,410 shares, a decline of 73.1% from the August 31st total of 86,934 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 121,189 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Sunshine Biopharma to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $70.00.

Sunshine Biopharma Price Performance

Sunshine Biopharma stock traded up $0.04 during trading on Friday, reaching $0.84. 131,499 shares of the company were exchanged, compared to its average volume of 179,721. The stock’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $4.63. The company has a market capitalization of $3.63 million, a P/E ratio of -0.08 and a beta of 1.17. Sunshine Biopharma has a 52-week low of $0.78 and a 52-week high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.05. Sunshine Biopharma had a negative net margin of 17.94% and a negative return on equity of 26.36%. The business had revenue of $9.26 million during the quarter, compared to analysts’ expectations of $8.70 million. As a group, equities analysts forecast that Sunshine Biopharma will post -1.95 earnings per share for the current year.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc (NASDAQ:SBFM) is a pharmaceutical and biotechnology company focused on the development of therapies for cancer and other serious diseases. Its research and development activities are centered on proprietary drug candidates intended to address unmet medical needs.

The company’s lead oncology candidate is Adva-27a, a small-molecule topoisomerase II inhibitor being investigated for potential use against advanced solid tumors, including certain cancers that may be resistant to existing treatments.