Sunshine Biopharma Inc [NASDAQ: SBFM] price plunged by -63.83 percent to reach at -$0.12. The company report on February 13, 2024 at 9:00 AM that Sunshine Biopharma, Inc. Announces Pricing of $10.0 Million Underwritten Public Offering.
Sunshine Biopharma, Inc. (NASDAQ:SBFM) (the “Company”), a pharmaceutical company offering and researching life-saving medicines in a variety of therapeutic areas including oncology and antivirals, today announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately $10.0 million, before deducting underwriting fees and other estimated offering expenses payable by the Company.
The offering consists of 71,428,571 Units, each consisting of one (1) share of common stock or Pre-Funded Warrant to purchase one share of common stock and 0.1 Series A Warrants to purchase one (1) share of common stock per warrant, and 0.2 Series B Warrants to purchase one (1) share of common stock per warrant. The public offering price per Unit is $0.14 (or $0.139 for each Unit with a Pre-Funded Warrant, which is equal to the public offering price per Unit with a share of common stock to be sold in the offering minus an exercise price of $0.001 per Pre-Funded Warrant). The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until exercised in full. The initial exercise price of each Series A Warrant is $2.10 per share of common stock or pursuant to an alternative cashless exercise option. The Series A Warrants are exercisable immediately and expire 30 months after the initial issuance date. The initial exercise price of each Series B Warrant is $2.38 per share of common stock. The Series B Warrants are exercisable immediately and expire 60 months after the initial issuance date.
The one-year SBFM stock forecast points to a potential upside of 97.67. The average equity rating for SBFM stock is currently 1.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Sunshine Biopharma Inc [SBFM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SBFM shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SBFM stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Sunshine Biopharma Inc is set at 0.04, with the Price to Sales ratio for SBFM stock in the period of the last 12 months amounting to 0.09. The Price to Book ratio for the last quarter was 0.08, with the Price to Cash per share for the same quarter was set at 0.67.
SBFM Stock Performance Analysis:
Sunshine Biopharma Inc [SBFM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -73.02. With this latest performance, SBFM shares dropped by -72.88% in over the last four-week period, additionally sinking by -86.24% over the last 6 months – not to mention a drop of -93.12% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBFM stock in for the last two-week period is set at 17.09, with the RSI for the last a single of trading hit 12.07, and the three-weeks RSI is set at 21.83 for Sunshine Biopharma Inc [SBFM]. The present Moving Average for the last 50 days of trading for this stock 0.2491, while it was recorded at 0.1888 for the last single week of trading, and 0.3940 for the last 200 days.
Insight into Sunshine Biopharma Inc Fundamentals:
Sunshine Biopharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.11 and a Current Ratio set at 5.00.
Sunshine Biopharma Inc [SBFM] Institutonal Ownership Details
The top three institutional holders of SBFM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SBFM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SBFM stock with ownership which is approximately 5.8325%.
