Viracta Therapeutics (NASDAQ:VIRX) Price Target Lowered to $2.00 at Royal Bank of Canada

Viracta Therapeutics (NASDAQ:VIRX) had its price objective lowered by Royal Bank of Canada from $4.00 to $2.00 in a research report released on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

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

Viracta Therapeutics Trading Down 8.5 %

NASDAQ VIRX traded down $0.01 during midday trading on Thursday, hitting $0.14. The company had a trading volume of 765,975 shares, compared to its average volume of 490,595. Viracta Therapeutics has a twelve month low of $0.13 and a twelve month high of $1.31. The firm has a 50-day moving average price of $0.22 and a 200-day moving average price of $0.44. The company has a market capitalization of $5.69 million, a PE ratio of -0.14 and a beta of 0.72.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC acquired a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned about 1.27% of Viracta Therapeutics as of its most recent SEC filing. 31.37% of the stock is currently owned by institutional investors.

Viracta Therapeutics Company Profile

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.