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Wedbush Downgrades Sunesis Pharmaceuticals Inc. (SNSS) to Neutral

August 29, 2014 7:19 AM EDT
Get Alerts SNSS Hot Sheet
Price: $5.32 --0%

Rating Summary:
    5 Buy, 6 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Wedbush downgraded Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) from Outperform to Neutral with a price target of $10 (unchanged). Analyst David M. Nierengarten noted less appealing risk/reward.

"We see limited valuation upside for SNSS from current levels prior to the VALOR data readout, while the downside risk from a negative result from the VALOR trial is significant. We expect top-line results from the Phase III VALOR study of cytarabine plus vosaroxin (Qinprezo) or placebo in r/r AML to become available in the Sept/Oct timeframe (management has guided to H2:14), representing a key binary event for SNSS shares." said Nierengarten.

"We view the risk/reward owning SNSS shares into the VALOR unblinding as unattractive at these levels and recommend investors step to the sidelines," he added.

For an analyst ratings summary and ratings history on Sunesis Pharmaceuticals Inc. click here. For more ratings news on Sunesis Pharmaceuticals Inc. click here.

Shares of Sunesis Pharmaceuticals Inc. closed at $7.78 yesterday.



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