Roth Capital Maintains Neutral On Sunesis, Sees 24% Downside
In a research report sent to investors today, Roth Capital analyst Joseph Pantginis maintained a Neutral rating on Sunesis Pharmaceuticals (NASDAQ:SNSS) with a price target of $1.30, which represents a potential downside of 24% from where the stock is currently trading.
Pantginis said, “With the recent Phase III VALOR study not achieving its endpoint of OS, we are mindful of developments from discussions with the FDA regarding vosaroxin’s path forward. We remain cautious in our view of vosaroxin’s potential for approval in the U.S. and derive all of the value from the potential ex-U.S. approval, namely in E.U. (we assign a very conservative 10% chance of success). We believe the study’s failure caused a profound negative impact for the company and the AML space.”
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 -4.9% and a 45.6% success rate. Pantginis has a -75.6% average return when recommending SNSS, and is ranked #3285 out of 3367 analysts.