Brokers Set Expectations for Sierra Oncology Inc’s Q3 2019 Earnings (NASDAQ:SRRA)

Sierra Oncology Inc (NASDAQ:SRRA) – Analysts at Wedbush lifted their Q3 2019 earnings estimates for Sierra Oncology in a research report issued to clients and investors on Tuesday, June 4th, Zacks Investment Research reports. Wedbush analyst R. Driscoll now expects that the biotechnology company will earn ($0.19) per share for the quarter, up from their previous estimate of ($0.20). Wedbush also issued estimates for Sierra Oncology’s Q4 2019 earnings at ($0.19) EPS, FY2019 earnings at ($0.75) EPS, FY2020 earnings at ($0.81) EPS, FY2021 earnings at ($0.67) EPS, FY2022 earnings at ($0.69) EPS and FY2023 earnings at ($0.52) EPS.

Sierra Oncology (NASDAQ:SRRA) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04.

Separately, Zacks Investment Research downgraded Sierra Oncology from a “buy” rating to a “hold” rating in a report on Thursday, April 25th.

NASDAQ:SRRA traded down $0.02 during trading hours on Friday, hitting $0.56. The company had a trading volume of 523,738 shares, compared to its average volume of 2,204,642. The company’s 50-day simple moving average is $1.00. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 0.06. Sierra Oncology has a 52 week low of $0.53 and a 52 week high of $3.15.

Several institutional investors and hedge funds have recently modified their holdings of the company. Broadfin Capital LLC raised its stake in shares of Sierra Oncology by 19.3% during the 4th quarter. Broadfin Capital LLC now owns 4,880,327 shares of the biotechnology company’s stock worth $6,442,000 after buying an additional 789,983 shares in the last quarter. 683 Capital Management LLC grew its holdings in shares of Sierra Oncology by 20.8% in the 4th quarter. 683 Capital Management LLC now owns 2,173,620 shares of the biotechnology company’s stock worth $2,869,000 after acquiring an additional 373,620 shares during the period. Morgan Stanley grew its holdings in shares of Sierra Oncology by 11.3% in the 3rd quarter. Morgan Stanley now owns 992,516 shares of the biotechnology company’s stock worth $1,687,000 after acquiring an additional 100,709 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Sierra Oncology by 19.5% in the 1st quarter. Acadian Asset Management LLC now owns 486,493 shares of the biotechnology company’s stock worth $831,000 after acquiring an additional 79,388 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Sierra Oncology in the 1st quarter worth approximately $32,000. 63.63% of the stock is currently 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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Earnings History and Estimates for Sierra Oncology (NASDAQ:SRRA)

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