Cantor Upgrades Sunesis Pharmaceuticals To Buy Ahead Of FDA Meeting In Early 2015


In a research report released earlier today, Cantor analyst Mara Goldstein upgraded shares of Sunesis Pharmaceuticals (NASDAQ:SNSS) from Hold to Buy and doubled her price target to $4, which represents a potential upside of 54% from where the stock is currently trading.

Goldstein commented: “With the full VALOR dataset now in the public domain (presented as an ASH late-breaker on December 9th), we think expectations for any positive FDA interaction are uniformly low, and with the shares reflecting this, we are taking this opportunity to upgrade the stock.”

The analyst continued, “We understand that the trial did not meet its prespecified endpoint, but we do believe that the analysis presented using prestratified log rank analytics is robust enough to warrant discussion with the FDA, and possibly NDA filing. If our belief is correct that the Agency is willing to review an NDA, we would expect the shares to be revalued.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mara Goldstein has a total average return of 19.6% and a 78.8% success rate. Goldstein has a 35.2% average return when recommending SNSS, and is ranked #238 out of 3401 analysts.

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