Sunshine Biopharma Inc (SBFM)

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SBFM Analyst BUY rating and $3 target update:

BUY rating and price target now based primarily on Nora Pharma projected revenue growth to $100M in 2025 and achieving profitability in 2024. Below are some summary statements from the report (see link below for full report):

"We see Sunshine Biopharma as being on the verge of putting together a string of quarters with growing revenues from its generic (and OTC) drug business ramping up from $4.3 million in 2022 to an estimated $22.5 million in 2023, $44.4 million in 2024 and $100 million in 2025. We confirm our BUY recommendation for SBFM shares and our $3 Target Price."

"In our view, we recommend buying shares of SBFM based on the ramping revenues from its generic drug business. Should any one or more of Sunshine's drug pipeline be successful, we believe it could offer lottery ticket-like positive upsides which are not presently included in our target price. We think the scientific rationales behind each of the Adva-27a, PLpro and K1.1 mRNA programs are strong, but we recognize that it will be 1-5 years before initial human clinical data could be available."

https://sunshinebiopharma.com/wp-content/uploads/NOV-14-2023-AEGIS-CAPITAL-ANALYST-REPORT.pdf