Sunshine Biopharma (NASDAQ:SBFM) Shares Down 1.9% – Here’s What Happened

Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) fell 1.9% on Thursday . The stock traded as low as $1.49 and last traded at $1.51. 39,099 shares changed hands during trading, a decline of 30% from the average session volume of 56,196 shares. The stock had previously closed at $1.54.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Sunshine Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.00.

Sunshine Biopharma Stock Down 1.9%

The stock has a market capitalization of $6.88 million, a PE ratio of -0.01 and a beta of 1.48. The company has a 50-day moving average of $1.46 and a 200 day moving average of $1.52.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.28). Sunshine Biopharma had a negative return on equity of 26.04% and a negative net margin of 17.35%.The firm had revenue of $9.41 million for the quarter, compared to analysts’ expectations of $12.10 million.

Institutional Trading of Sunshine Biopharma

An institutional investor recently bought a new position in Sunshine Biopharma stock. Altium Capital Management LLC acquired a new position in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,466 shares of the company’s stock, valued at approximately $96,000. Sunshine Biopharma comprises approximately 0.2% of Altium Capital Management LLC’s holdings, making the stock its 21st largest holding. Altium Capital Management LLC owned 1.86% of Sunshine Biopharma at the end of the most recent quarter. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc, a pharmaceutical company, focuses on the research and development of life-saving medicines in various therapeutic areas, including oncology and antivirals in the United States and Canada. It operates in two segments, Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products.