Sierra Oncology (SRRA) Stock Price Up 7%

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Shares of Sierra Oncology Inc (NASDAQ:SRRA) rose 7% during trading on Wednesday . The company traded as high as $1.56 and last traded at $1.53. Approximately 501,368 shares traded hands during trading, an increase of 70% from the average daily volume of 295,414 shares. The stock had previously closed at $1.43.

SRRA has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Sierra Oncology from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research note on Wednesday, April 17th. Wedbush restated an “outperform” rating on shares of Sierra Oncology in a research note on Thursday, February 28th.

The company has a market cap of $109.04 million, a P/E ratio of -1.95 and a beta of 1.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 13.07 and a current ratio of 13.07.

Sierra Oncology (NASDAQ:SRRA) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. Equities analysts forecast that Sierra Oncology Inc will post -0.83 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Blair William & Co. IL boosted its holdings in Sierra Oncology by 73.3% during the 1st quarter. Blair William & Co. IL now owns 29,319 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 12,400 shares during the last quarter. Brookstone Capital Management purchased a new position in Sierra Oncology during the 1st quarter worth $28,000. Virtu Financial LLC purchased a new position in Sierra Oncology during the 1st quarter worth $32,000. Acadian Asset Management LLC boosted its holdings in Sierra Oncology by 5.4% during the 4th quarter. Acadian Asset Management LLC now owns 407,105 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 20,754 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Sierra Oncology by 4.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,895,334 shares of the biotechnology company’s stock worth $3,241,000 after acquiring an additional 86,550 shares during the last quarter. Institutional investors and hedge funds own 64.56% of the company’s stock.

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About Sierra Oncology (NASDAQ:SRRA)

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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