Royal Bank of Canada Issues Pessimistic Forecast for Viracta Therapeutics (NASDAQ:VIRX) Stock Price

Viracta Therapeutics (NASDAQ:VIRX) had its target price dropped by equities researchers at Royal Bank of Canada from $4.00 to $2.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

Separately, Leerink Partners cut Viracta Therapeutics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $5.00 to $3.00 in a research note on Friday, August 16th.

Viracta Therapeutics Price Performance

Viracta Therapeutics stock opened at $0.15 on Thursday. Viracta Therapeutics has a 12-month low of $0.13 and a 12-month high of $1.31. The stock has a market capitalization of $5.95 million, a PE ratio of -0.14 and a beta of 0.72. The firm has a 50 day simple moving average of $0.22 and a 200-day simple moving average of $0.43.

Viracta Therapeutics (NASDAQ:VIRX) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.10. On average, analysts forecast that Viracta Therapeutics will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viracta Therapeutics

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned 1.27% of Viracta Therapeutics at the end of the most recent reporting period. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

About Viracta Therapeutics

Viracta Therapeutics, Inc, a clinical-stage precision oncology company, focuses on the treatment and prevention of virus-associated cancers that impact patients worldwide. Its lead product candidate is Nana-val, an all-oral combination therapy of its proprietary investigational drug, nanatinostat, and the antiviral agent valganciclovir.