Brokerages Anticipate Sierra Oncology Inc (NASDAQ:SRRA) Will Post Earnings of -$0.15 Per Share

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Wall Street brokerages expect Sierra Oncology Inc (NASDAQ:SRRA) to post earnings per share of ($0.15) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Sierra Oncology’s earnings. Sierra Oncology reported earnings of ($0.19) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.1%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Sierra Oncology will report full-year earnings of ($0.70) per share for the current fiscal year. For the next year, analysts forecast that the business will report earnings of ($0.63) per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sierra Oncology.

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

SRRA has been the topic of several recent research reports. ValuEngine cut shares of Sierra Oncology from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research raised Sierra Oncology from a “hold” rating to a “buy” rating and set a $0.25 price objective for the company in a report on Saturday, November 9th. Finally, Oppenheimer started coverage on Sierra Oncology in a research note on Thursday. They issued an “outperform” rating and a $1.20 price objective for the company.

Shares of NASDAQ:SRRA traded down $0.05 during midday trading on Wednesday, hitting $0.44. 9,990,518 shares of the company’s stock were exchanged, compared to its average volume of 819,842. 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 12 month low of $0.22 and a 12 month high of $2.01. The company has a market cap of $36.22 million, a PE ratio of -0.58 and a beta of 1.30. The stock has a 50 day moving average price of $0.31 and a 200-day moving average price of $0.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Sierra Oncology by 981.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 43,703 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 39,661 shares during the last quarter. 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 worth $504,000 after buying an additional 412,728 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sierra Oncology by 22.0% in 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 last quarter. Finally, Hikari Power Ltd boosted its stake in shares of Sierra Oncology by 98.4% in the 3rd quarter. Hikari Power Ltd now owns 500,138 shares of the biotechnology company’s stock worth $195,000 after buying an additional 248,038 shares during the last quarter. 51.77% of the stock is owned by institutional investors and hedge funds.

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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