Wedbush Starts Sunesis Pharmaceuticals Inc. (SNSS) at Outperform, Give Them the Credit They Deserve
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Price: $5.32 --0%
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Wedbush initiates coverage on shares of Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) with an Outperform rating and $4 price target.
The firm reports that SNSS is currently enrolling patients in a randomized, adaptive design Phase III clinical trial for Vosaroxin, which is a drug candidate in relapsed/refractory acute myelogenous leukemia. Wedbush notes that Phase II results were strong and believes that the Street isn't giving the company as much credit as it deserves.
An analyst at the firm comments, "We view SNSS as undervalued at <$10 million enterprise value, given its Phase III program for Vosaroxin and the potential of its pan-Raf inhibitor program. We believe investors are overlooking this stock, having assigned almost no enterprise value to SNSS, despite its positive Phase II Vosaroxin data and interesting partnered Phase I pan-Raf program that could bring $60 million to the company in pre-commercial milestone payments."
For 2011 and 2012, Wedbush estimates EPS of ($0.50) and ($0.72).
For more ratings news on Sunesis Pharmaceuticals Inc. click here and for the rating history of Sunesis Pharmaceuticals Inc. click here.
Shares of Sunesis Pharmaceuticals Inc. closed at $1.30 yesterday.
The firm reports that SNSS is currently enrolling patients in a randomized, adaptive design Phase III clinical trial for Vosaroxin, which is a drug candidate in relapsed/refractory acute myelogenous leukemia. Wedbush notes that Phase II results were strong and believes that the Street isn't giving the company as much credit as it deserves.
An analyst at the firm comments, "We view SNSS as undervalued at <$10 million enterprise value, given its Phase III program for Vosaroxin and the potential of its pan-Raf inhibitor program. We believe investors are overlooking this stock, having assigned almost no enterprise value to SNSS, despite its positive Phase II Vosaroxin data and interesting partnered Phase I pan-Raf program that could bring $60 million to the company in pre-commercial milestone payments."
For 2011 and 2012, Wedbush estimates EPS of ($0.50) and ($0.72).
For more ratings news on Sunesis Pharmaceuticals Inc. click here and for the rating history of Sunesis Pharmaceuticals Inc. click here.
Shares of Sunesis Pharmaceuticals Inc. closed at $1.30 yesterday.
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