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

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 176,303 shares, a decline of 79.0% from the October 15th total of 840,899 shares. Based on an average trading volume of 170,382 shares, the short-interest ratio is currently 1.0 days. Currently, 82.0% of the shares of the stock are short sold.

Analyst Ratings Changes

SBFM has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Sunshine Biopharma to a “hold” rating in a research note on Saturday, October 31st. Weiss Ratings raised shares of Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Sunshine Biopharma Stock Down 2.6%

Sunshine Biopharma stock traded down $0.07 during mid-day trading on Friday, hitting $2.77. 8,250 shares of the stock were exchanged, compared to its average volume of 114,824. Sunshine Biopharma has a 12 month low of $2.53 and a 12 month high of $464.00. The firm’s fifty day simple moving average is $10.44 and its two-hundred day simple moving average is $98.38. The stock has a market capitalization of $608,300.00, a price-to-earnings ratio of -0.01 and a beta of 1.32.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($5.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.40) by ($1.80). Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%. The firm had revenue of $9.44 million during the quarter, compared to analyst estimates of $9.60 million. As a group, analysts forecast that Sunshine Biopharma will post -39.00 earnings per share for the current fiscal year.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc. is a biotechnology and pharmaceutical company focused on developing and commercializing therapies for cancer and other medical conditions. Its lead oncology candidate, Adva-27a, is an investigational small-molecule drug designed to inhibit topoisomerase II, an enzyme involved in cancer-cell replication. The company has studied the compound in preclinical models, including models of breast cancer and multidrug-resistant tumors. In addition to its drug-development activities, Sunshine Biopharma has expanded into the pharmaceutical products business through its Canadian operations.