Market cap of Sunshine Biopharma Inc [SBFM] reaches 6.02M – now what?

Sunshine Biopharma Inc [NASDAQ: SBFM] gained 6.14% on the last trading session, reaching $0.06 price per share at the time. The company report on February 15, 2024 at 9:15 AM that Sunshine Biopharma, Inc. Announces Closing 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 closing of a firm commitment underwritten public offering with gross proceeds to the Company of approximately $10.0 million, before deducting underwriting discounts and other estimated expenses payable by the Company.

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The offering consisted of 71,428,571 Units, consisting of (a) 26,428,571 Common Units, with each Common Unit consisting of one share of our common stock, $0.001 par value per share, one-tenth (1/10) of a Series A warrant to purchase one share of common stock (“Series A Warrant”) and two-tenths (2/10) of a Series B warrant to purchase one share of common stock (“Series B Warrant”), and (b) 45,000,000 Pre-Funded Units, with each Pre-Funded Unit consisting of one pre-funded warrant to purchase one share of common stock, one-tenth of a Series A Warrant and two-tenths of a Series B Warrant. The Pre-Funded Warrants are 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.

If compared to the average trading volume of 15.50M shares, SBFM reached a trading volume of 21216411 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.01, with the Price to Sales ratio for SBFM stock in the period of the last 12 months amounting to 0.25. 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 0.16.

Trading performance analysis for SBFM stock

Sunshine Biopharma Inc [SBFM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.83. With this latest performance, SBFM shares gained by 7.65% in over the last four-week period, additionally sinking by -80.52% over the last 6 months – not to mention a drop of -91.60% 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 39.65, with the RSI for the last a single of trading hit 48.02, and the three-weeks RSI is set at 36.21 for Sunshine Biopharma Inc [SBFM]. The present Moving Average for the last 50 days of trading for this stock 0.1227, while it was recorded at 0.0582 for the last single week of trading, and 0.3088 for the last 200 days.

Sunshine Biopharma Inc [SBFM]: A deeper dive into fundamental analysis

Sunshine Biopharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.45 and a Current Ratio set at 4.48.

An analysis of Institutional ownership at Sunshine Biopharma Inc [SBFM]

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%.