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

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a significant 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. Approximately 0.6% of the company’s stock are short sold. Based on an average trading volume of 121,189 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Sunshine Biopharma to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Sunshine Biopharma Price Performance

Shares of NASDAQ SBFM opened at $0.84 on Friday. Sunshine Biopharma has a 1-year low of $0.78 and a 1-year high of $24.30. The business has a fifty day moving average price of $1.20 and a 200 day moving average price of $4.63. The stock has a market capitalization of $3.63 million, a P/E ratio of -0.08 and a beta of 1.17.

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

About Sunshine Biopharma

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.