Sierra Oncology (SRRA) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Sierra Oncology (NASDAQ:SRRA) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

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, Wedbush reaffirmed an outperform rating on shares of Sierra Oncology in a research report on Thursday, February 28th.

Shares of Sierra Oncology stock traded up $0.04 during trading hours on Thursday, hitting $1.63. 197,205 shares of the company’s stock traded hands, compared to its average volume of 478,333. Sierra Oncology has a 12-month low of $1.05 and a 12-month high of $3.70. The company has a quick ratio of 10.77, a current ratio of 10.77 and a debt-to-equity ratio of 0.05.

Sierra Oncology (NASDAQ:SRRA) last announced its earnings results on Thursday, February 28th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.01. As a group, equities research analysts expect that Sierra Oncology will post -0.9 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Brookstone Capital Management purchased a new stake in shares of Sierra Oncology during the 1st quarter valued at $28,000. Virtu Financial LLC purchased a new stake in shares of Sierra Oncology during the 1st quarter valued at $32,000. Hikari Power Ltd purchased a new stake in shares of Sierra Oncology during the 4th quarter valued at $330,000. Acadian Asset Management LLC increased its position in shares of Sierra Oncology by 5.4% during the 4th quarter. Acadian Asset Management LLC now owns 407,105 shares of the biotechnology company’s stock valued at $538,000 after purchasing an additional 20,754 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Sierra Oncology by 11.3% during the 3rd quarter. Morgan Stanley now owns 992,516 shares of the biotechnology company’s stock valued at $1,687,000 after purchasing an additional 100,709 shares during the last quarter. 65.18% of the stock is owned by hedge funds and other institutional investors.

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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