Here’s Why Roth Capital Raised Price Target for Sunesis Pharmaceuticals, Inc. by 37%
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) price target has been increased at Roth Caputal by research analyst Joseph Pantginis from $4.00 to $5.50, while the rating remains at Buy. The increased price target comes after the company announced additional results of its VALOR trial, a Phase 3 study of vosaroxin and cytarabine in adult patients with relapsed or refractory acute myeloid leukemia (AML) at the acute myeloid leukemia (AML) poster session of the 20th Congress of the European Hematology Association (EHA).
Pantginis wrote, “We believe that the ASCO and EHA sub-group data showing survival and clinical response benefits with vosaroxin treatment could be meaningful for regulators, particularly the pre-specified disease status stratification analyses. SNSS is targeting its formal meeting with the FDA for mid-2015 and, if successful, a rolling NDA submission in 2H15 based on Fast Track status. In the E.U., SNSS has been assigned rapporteurs and plans to meet with the EMA in mid-2015 to discuss its MAA filing. With two precedents under which drugs were approved based on sub-group analyses, we aim our recommendation for the most risk-friendly investors.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of 9.0% and a 51.4% success rate. Pantginis has a -23.2% average return when recommending SNSS, and is ranked #245 out of 3624 analysts.
Out of the 7 analysts polled by TipRanks, 5 rate Sunesis stock a Buy, while 2 rate it a Hold. With a return potential of 43.45%, the stock’s 12-month consensus target price stands at $3.83.