Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Significant Growth in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 131,478 shares, an increase of 461.6% from the September 15th total of 23,410 shares. Based on an average daily volume of 161,724 shares, the days-to-cover ratio is currently 0.8 days. Currently, 3.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBFM. Wall Street Zen upgraded shares of Sunshine Biopharma to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Sunshine Biopharma Stock Performance

Shares of SBFM stock traded down $0.09 on Friday, hitting $0.34. 6,736,043 shares of the stock traded hands, compared to its average volume of 15,614,080. The firm’s 50-day moving average price is $1.01 and its two-hundred day moving average price is $3.85. The stock has a market capitalization of $1.46 million, a PE ratio of -0.03 and a beta of 1.20. Sunshine Biopharma has a twelve month low of $0.33 and a twelve month high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.26 million during the quarter, compared to analysts’ expectations of $8.70 million. On average, equities research analysts anticipate that Sunshine Biopharma will post -1.95 EPS for the current fiscal year.

About Sunshine Biopharma

Sunshine Biopharma, Inc is a pharmaceutical and biotechnology company focused on developing and commercializing therapies for cancer and other medical conditions. The company’s research pipeline has included Adva-27a, an anticancer compound designed to target tumors that may be resistant to existing treatments, as well as mRNA-based therapeutic candidates.

Through its Canadian operations, including Nora Pharma, Sunshine Biopharma is also involved in the development, marketing and distribution of prescription and over-the-counter pharmaceutical products.