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Weak On High Volume: Sunesis Pharmaceuticals (SNSS)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Sunesis Pharmaceuticals ( SNSS) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Sunesis Pharmaceuticals as such a stock due to the following factors:

  • SNSS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $6.0 million.
  • SNSS has traded 62,177 shares today.
  • SNSS is trading at 2.07 times the normal volume for the stock at this time of day.
  • SNSS is trading at a new low 3.03% below yesterday's close.

'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in SNSS with the Ticky from Trade-Ideas. See the FREE profile for SNSS NOW at Trade-Ideas

More details on SNSS:

Sunesis Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Currently there are 6 analysts that rate Sunesis Pharmaceuticals a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Sunesis Pharmaceuticals has been 551,000 shares per day over the past 30 days. Sunesis has a market cap of $418.3 million and is part of the health care sector and drugs industry. The stock has a beta of 2.80 and a short float of 16.7% with 8.23 days to cover. Shares are up 53% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Sunesis Pharmaceuticals as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and feeble growth in its earnings per share.

Highlights from the ratings report include:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has significantly decreased by 43.8% when compared to the same quarter one year ago, falling from -$8.19 million to -$11.78 million.
  • SUNESIS PHARMACEUTICALS INC's earnings per share declined by 11.1% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, SUNESIS PHARMACEUTICALS INC continued to lose money by earning -$0.72 versus -$1.07 in the prior year. For the next year, the market is expecting a contraction of 9.0% in earnings (-$0.79 versus -$0.72).
  • SNSS's debt-to-equity ratio of 0.87 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Regardless of the somewhat mixed results with the debt-to-equity ratio, the company's quick ratio of 1.48 is sturdy.
  • The revenue growth greatly trails the industry average of 43.4%. Since the same quarter one year prior, revenues have remained constant. Even though the company's revenue remained stagnant, the earnings per share decreased.
  • Compared to other companies in the Biotechnology industry and the overall market, SUNESIS PHARMACEUTICALS INC's return on equity significantly trails that of both the industry average and the S&P 500.

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