Sierra Oncology (NASDAQ:SRRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage presently has a $1.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential downside of 0.66% from the company’s current price.
According to Zacks, “Sierra Oncology, Inc. is a clinical-stage drug development company. It develops and markets drugs for the treatment of cancer. The product pipeline consists of SRA737 and SRA141. SRA737 is an orally bioavailable small molecule inhibitor of Checkpoint kinase 1, a key cell cycle checkpoint and central regulator of the DNA Damage Response network. SRA141 is an orally available small molecule inhibitor of cell division cycle 7kinase. Sierra Oncology, Inc., formerly known as ProNAi Therapeutics, Inc., is headquatered in Vancouver, Canada. “
Separately, Wedbush restated an “outperform” rating on shares of Sierra Oncology in a research report on Thursday, February 28th.
Shares of SRRA stock traded up $0.13 during trading hours on Wednesday, reaching $1.51. The company’s stock had a trading volume of 1,600 shares, compared to its average volume of 279,745. The firm has a market cap of $102.77 million, a P/E ratio of -2.01 and a beta of 1.78. Sierra Oncology has a one year low of $1.05 and a one year high of $3.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 10.77 and a current ratio of 10.77.
Sierra Oncology (NASDAQ:SRRA) last issued its quarterly earnings data on Thursday, February 28th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. As a group, equities analysts predict that Sierra Oncology will post -0.9 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Sierra Oncology during the first quarter valued at approximately $32,000. Hikari Power Ltd bought a new stake in shares of Sierra Oncology during the fourth quarter valued at approximately $330,000. Acadian Asset Management LLC boosted its position in shares of Sierra Oncology by 5.4% during the fourth quarter. Acadian Asset Management LLC now owns 407,105 shares of the biotechnology company’s stock valued at $538,000 after purchasing an additional 20,754 shares in the last quarter. Morgan Stanley boosted its position in shares of Sierra Oncology by 11.3% during the third quarter. Morgan Stanley now owns 992,516 shares of the biotechnology company’s stock valued at $1,687,000 after purchasing an additional 100,709 shares in the last quarter. Finally, 683 Capital Management LLC boosted its position in shares of Sierra Oncology by 20.8% during the fourth quarter. 683 Capital Management LLC now owns 2,173,620 shares of the biotechnology company’s stock valued at $2,869,000 after purchasing an additional 373,620 shares in the last quarter. Institutional investors own 65.16% of the company’s stock.
About Sierra Oncology
Sierra Oncology, Inc, a clinical stage drug development company, is advancing targeted therapeutics for the treatment of patients with unmet medical needs in hematology and oncology. Its lead drug candidate, momelotinib, is a selective and orally-bioavailable JAK1, JAK2, and ACVR1 inhibitor that has been investigated in two completed Phase 3 trials for the treatment of myelofibrosis and has demonstrated a differentiated therapeutic profile encompassing anemia-related benefits, as well as achieving substantive splenic volume reduction and constitutional symptom control.
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