Oppenheimer initiated coverage on shares of Sierra Oncology (NASDAQ:SRRA) in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $1.20 price target on the biotechnology company’s stock.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Sierra Oncology from a hold rating to a buy rating and set a $0.25 price objective on the stock in a research note on Saturday, November 9th. ValuEngine downgraded Sierra Oncology from a buy rating to a hold rating in a report on Friday, November 1st.
Shares of SRRA stock opened at $0.49 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.69 and a quick ratio of 7.69. The company has a market capitalization of $28.61 million, a P/E ratio of -0.65 and a beta of 1.30. The company’s 50-day simple moving average is $0.31 and its two-hundred day simple moving average is $0.51. Sierra Oncology has a one year low of $0.22 and a one year high of $2.01.
Sierra Oncology (NASDAQ:SRRA) last issued its earnings results on Monday, November 4th. The biotechnology company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.04. On average, research analysts expect that Sierra Oncology will post -0.76 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in SRRA. JPMorgan Chase & Co. raised its holdings in shares of Sierra Oncology by 981.2% in the second quarter. JPMorgan Chase & Co. now owns 43,703 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 39,661 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Sierra Oncology by 84.8% in the second quarter. Acadian Asset Management LLC now owns 899,221 shares of the biotechnology company’s stock worth $504,000 after acquiring an additional 412,728 shares during the period. Renaissance Technologies LLC lifted its stake in Sierra Oncology by 22.0% in the second quarter. Renaissance Technologies LLC now owns 2,312,634 shares of the biotechnology company’s stock worth $1,295,000 after acquiring an additional 417,300 shares during the period. Finally, Hikari Power Ltd lifted its stake in Sierra Oncology by 98.4% in the third quarter. Hikari Power Ltd now owns 500,138 shares of the biotechnology company’s stock worth $195,000 after acquiring an additional 248,038 shares during the period. Hedge funds and other institutional investors own 48.67% 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.