Leerink Partnrs Has Negative Outlook of VIRX FY2024 Earnings

Viracta Therapeutics, Inc. (NASDAQ:VIRX) – Stock analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Viracta Therapeutics in a report issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($0.80) per share for the year, down from their prior forecast of ($0.69). The consensus estimate for Viracta Therapeutics’ current full-year earnings is ($0.80) per share. Leerink Partnrs also issued estimates for Viracta Therapeutics’ Q4 2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.40) EPS.

Several other brokerages also recently commented on VIRX. Royal Bank of Canada lowered their price target on Viracta Therapeutics from $4.00 to $2.00 and set an “outperform” rating on the stock in a report on Thursday. Leerink Partners downgraded shares of Viracta Therapeutics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $5.00 to $3.00 in a report on Friday, August 16th.

Viracta Therapeutics Stock Performance

Shares of VIRX stock opened at $0.15 on Monday. The stock’s 50 day simple moving average is $0.22 and its 200 day simple moving average is $0.43. Viracta Therapeutics has a twelve month low of $0.13 and a twelve month high of $1.31. The company has a market capitalization of $6.00 million, a price-to-earnings ratio of -0.14 and a beta of 0.72.

Institutional Investors Weigh In On Viracta Therapeutics

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC purchased a new position in Viracta Therapeutics, Inc. (NASDAQ:VIRX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 500,000 shares of the company’s stock, valued at approximately $116,000. Stonepine Capital Management LLC owned about 1.27% of Viracta Therapeutics at the end of the most recent reporting period. Institutional investors own 31.37% of the company’s stock.

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.