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

Viracta Therapeutics (NASDAQ:VIRX) had its price target reduced by Royal Bank of Canada from $4.00 to $2.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

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

Viracta Therapeutics Stock Performance

NASDAQ VIRX opened at $0.15 on Thursday. The stock has a fifty day moving average of $0.22 and a 200-day moving average of $0.43. The stock has a market capitalization of $6.00 million, a P/E ratio of -0.14 and a beta of 0.72. Viracta Therapeutics has a 52 week low of $0.13 and a 52 week high of $1.31.

Institutional Investors Weigh In On Viracta Therapeutics

A hedge fund recently bought a new stake in Viracta Therapeutics stock. Stonepine Capital Management LLC bought a new stake in Viracta Therapeutics, Inc. (NASDAQ:VIRX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter. 31.37% of the stock is currently owned by 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.