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

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

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

Viracta Therapeutics Stock Performance

Shares of VIRX traded down $0.01 during midday trading on Thursday, hitting $0.14. 765,975 shares of the company traded hands, compared to its average volume of 490,595. Viracta Therapeutics has a 52 week low of $0.13 and a 52 week high of $1.31. The firm has a 50 day moving average of $0.22 and a 200-day moving average of $0.44. The stock has a market cap of $5.69 million, a price-to-earnings ratio of -0.14 and a beta of 0.72.

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

Institutional Investors Weigh In On Viracta Therapeutics

An institutional investor recently bought a new position in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new position in shares of Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 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 and hedge funds.

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.