Oppenheimer Upgrades Sunesis Pharmaceuticals Inc. (SNSS) to Outperform
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Oppenheimer analyst Hartaj Singh upgraded Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) from Perform to Outperform with a price target of $12.00.
The analyst comments "We are upgrading Sunesis (SNSS) to Outperform and assigning a $12/share price target (see below) due to the intriguing and elegant approach to precision oncology in—soon to be merged with SNSS—Viracta's pipeline. This approach is typified by the lead project of nanatinostat + valganciclovir in Epstein-Barr virus (EBV)-positive lymphomas, where we expect a registration trial to start in 1H21 following a strong ASH 2020 data presentation and a successful end of Phase 2 meeting with the FDA in November 2020. In our conversations with the Viracta management team, we were struck by the laser-focus on the lead registration trial, the logic behind bringing onboard the experienced SNSS team, and the potential among EBV cancers (~1.8% of worldwide cancer deaths in 2010)."
Shares of Sunesis Pharmaceuticals Inc. closed at $3.56 yesterday.
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