Zacks Investment Research upgraded shares of Sierra Oncology (NASDAQ:SRRA) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $0.50 target price on the biotechnology company’s stock.
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 upgraded Sierra Oncology from a hold rating to a buy rating in a research report on Thursday, August 1st.
Sierra Oncology (NASDAQ:SRRA) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Research analysts expect that Sierra Oncology will post -0.8 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Sierra Oncology by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,312,634 shares of the biotechnology company’s stock worth $1,295,000 after buying an additional 417,300 shares during the period. Acadian Asset Management LLC increased its position in Sierra Oncology by 84.8% during the 2nd quarter. Acadian Asset Management LLC now owns 899,221 shares of the biotechnology company’s stock worth $504,000 after buying an additional 412,728 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Sierra Oncology by 981.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 43,703 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 39,661 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Sierra Oncology during the 1st quarter worth $32,000. Finally, Brookstone Capital Management acquired a new stake in shares of Sierra Oncology during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 62.61% of the company’s stock.
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.
Further Reading: Why do companies issue convertible shares?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sierra Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Oncology and related companies with MarketBeat.com's FREE daily email newsletter.