Sierra Oncology (NASDAQ:SRRA) Share Price Passes Above 50 Day Moving Average of $15.37

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Shares of Sierra Oncology, Inc. (NASDAQ:SRRA) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.37 and traded as high as $16.11. Sierra Oncology shares last traded at $15.90, with a volume of 4,456 shares trading hands.

Several equities research analysts have recently commented on SRRA shares. ValuEngine upgraded Sierra Oncology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 5th. HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of Sierra Oncology in a research note on Friday, December 11th. Oppenheimer restated a “buy” rating and issued a $27.00 target price on shares of Sierra Oncology in a research note on Tuesday, November 10th. Lifesci Capital reaffirmed an “outperform” rating on shares of Sierra Oncology in a report on Friday, November 6th. Finally, Zacks Investment Research raised shares of Sierra Oncology from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Saturday, December 19th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.67.

The company has a 50-day simple moving average of $15.37 and a 200-day simple moving average of $13.09. The stock has a market cap of $175.55 million, a PE ratio of -0.82 and a beta of 1.34.

Sierra Oncology (NASDAQ:SRRA) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($1.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.64) by $0.25. The company had revenue of $0.10 million for the quarter. As a group, equities research analysts forecast that Sierra Oncology, Inc. will post -8.57 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Boothbay Fund Management LLC acquired a new stake in shares of Sierra Oncology during the 3rd quarter valued at approximately $405,000. WINTON GROUP Ltd acquired a new stake in shares of Sierra Oncology in the 3rd quarter worth approximately $111,000. Bridgeway Capital Management Inc. purchased a new position in Sierra Oncology in the 2nd quarter valued at approximately $425,000. Morgan Stanley raised its holdings in Sierra Oncology by 2,626.1% during the third quarter. Morgan Stanley now owns 10,250 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 9,874 shares during the last quarter. Finally, Vivo Capital LLC purchased a new stake in Sierra Oncology during the third quarter worth $20,455,000. Institutional investors own 65.21% of the company’s stock.

About Sierra Oncology (NASDAQ:SRRA)

Sierra Oncology, Inc researches, develops, and commercializes therapies for the treatment of patients with hematology and oncology needs. 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.

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