Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Drops By 87.9%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 174,691 shares, a drop of 87.9% from the May 31st total of 1,443,031 shares. Based on an average trading volume of 1,382,111 shares, the short-interest ratio is presently 0.1 days. Approximately 35.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

SBFM has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. Zacks Research raised Sunshine Biopharma to a “hold” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunshine Biopharma has a consensus rating of “Hold” and an average price target of $70.00.

Sunshine Biopharma Trading Up 1.9%

SBFM traded up $0.04 on Friday, reaching $2.18. The company had a trading volume of 63,003 shares, compared to its average volume of 923,123. The company has a fifty day moving average of $5.49 and a 200-day moving average of $9.70. The company has a market capitalization of $1.09 million, a P/E ratio of -0.17 and a beta of 1.12. Sunshine Biopharma has a one year low of $2.00 and a one year high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its earnings results on Wednesday, May 13th. The company reported ($2.50) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.90). The company had revenue of $8.09 million for the quarter, compared to analyst estimates of $9.20 million. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. Research analysts predict that Sunshine Biopharma will post -6.3 EPS for the current year.

Institutional Investors Weigh In On Sunshine Biopharma

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Sunshine Biopharma in the fourth quarter worth approximately $29,000. Citadel Advisors LLC increased its position in shares of Sunshine Biopharma by 23.1% during the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after purchasing an additional 14,656 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Sunshine Biopharma in the 3rd quarter worth $32,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

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.