Zacks Investment Research Lowers Sierra Oncology (NASDAQ:SRRA) to Hold

Zacks Investment Research cut shares of Sierra Oncology (NASDAQ:SRRA) from a buy rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

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, ValuEngine raised shares of Sierra Oncology from a hold rating to a buy rating in a research report on Thursday, August 1st.

NASDAQ:SRRA opened at $0.43 on Friday. Sierra Oncology has a 12 month low of $0.40 and a 12 month high of $2.07. The firm has a market cap of $32.12 million, a price-to-earnings ratio of -0.57 and a beta of 1.24. The company has a quick ratio of 13.07, a current ratio of 9.24 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $0.53 and its 200-day moving average is $1.20.

Sierra Oncology (NASDAQ:SRRA) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Research analysts predict that Sierra Oncology will post -0.8 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake 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 worth $25,000 after acquiring an additional 39,661 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Sierra Oncology in the first quarter worth $28,000. Virtu Financial LLC acquired a new stake in shares of Sierra Oncology in the first quarter worth $32,000. Acadian Asset Management LLC grew its stake in shares of 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 last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of 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 last quarter. 62.61% of the stock is currently owned by institutional investors.

Sierra Oncology Company Profile

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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