Wedbush Analysts Lift Earnings Estimates for Sierra Oncology Inc (NASDAQ:SRRA)

Sierra Oncology Inc (NASDAQ:SRRA) – Equities research analysts at Wedbush increased their FY2019 earnings per share (EPS) estimates for shares of Sierra Oncology in a research report issued on Tuesday, November 5th, Zacks Investment Research reports. Wedbush analyst R. Driscoll now forecasts that the biotechnology company will post earnings of ($0.70) per share for the year, up from their previous forecast of ($0.80). Wedbush also issued estimates for Sierra Oncology’s Q4 2019 earnings at ($0.15) EPS, Q1 2020 earnings at ($0.20) EPS, Q2 2020 earnings at ($0.14) EPS, Q3 2020 earnings at ($0.14) EPS, Q4 2020 earnings at ($0.14) EPS, FY2020 earnings at ($0.63) EPS, FY2021 earnings at ($0.54) EPS and FY2022 earnings at ($0.57) EPS.

A number of other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Sierra Oncology from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research upgraded shares of Sierra Oncology from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a research report on Saturday, November 9th.

NASDAQ:SRRA traded up $0.02 during mid-day trading on Friday, reaching $0.35. The stock had a trading volume of 2,726,013 shares, compared to its average volume of 1,259,114. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.69 and a quick ratio of 7.69. Sierra Oncology has a twelve month low of $0.22 and a twelve month high of $2.01. The business has a 50 day simple moving average of $0.29 and a 200 day simple moving average of $0.55.

Sierra Oncology (NASDAQ:SRRA) last announced its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04.

Several hedge funds have recently bought and sold shares of SRRA. Renaissance Technologies LLC lifted its position in shares of Sierra Oncology by 22.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,312,634 shares of the biotechnology company’s stock valued at $1,295,000 after acquiring an additional 417,300 shares during the period. Acadian Asset Management LLC lifted its position in shares of Sierra Oncology by 84.8% during the 2nd quarter. Acadian Asset Management LLC now owns 899,221 shares of the biotechnology company’s stock valued at $504,000 after acquiring an additional 412,728 shares during the period. Hikari Power Ltd lifted its position in shares of Sierra Oncology by 98.4% during the 3rd quarter. Hikari Power Ltd now owns 500,138 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 248,038 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 valued at $25,000 after acquiring an additional 39,661 shares during the period. Institutional investors own 48.67% 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.

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Earnings History and Estimates for Sierra Oncology (NASDAQ:SRRA)

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