Wedbush Downgrades Sunesis Pharmaceuticals Inc. (SNSS) to Neutral
Get Alerts SNSS Hot Sheet
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Downgrades Amylyx Pharmaceuticals inc. (AMLX) to Neutral
- Silvercrest Asset Management (SAMG) PT Lowered to $20 at Singular Research
- China Resources Beer Holdings Co Ltd. (291:HK) (CRHKY) PT Raised to HK$44.67 at Jefferies
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Downgrades, Hot DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!