Sierra Oncology (SRRA) Shares Up 10.5%

Shares of Sierra Oncology Inc (NASDAQ:SRRA) shot up 10.5% during mid-day trading on Tuesday . The company traded as high as $3.75 and last traded at $3.57. 1,262,393 shares changed hands during mid-day trading, an increase of 234% from the average session volume of 378,360 shares. The stock had previously closed at $3.23.

A number of research firms have issued reports on SRRA. Zacks Investment Research cut shares of Sierra Oncology from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Jefferies Group upgraded shares of Sierra Oncology from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Finally, ValuEngine upgraded shares of Sierra Oncology from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.00.

The firm has a market capitalization of $186.70 and a P/E ratio of -3.76.

Sierra Oncology (NASDAQ:SRRA) last issued its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.03. research analysts anticipate that Sierra Oncology Inc will post -0.85 EPS for the current year.

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About Sierra Oncology

Sierra Oncology, Inc, formerly ProNAi Therapeutics, Inc, is a clinical-stage drug development company. The Company’s lead drug candidate, SRA737, is orally bioavailable small molecule inhibitor of Checkpoint kinase 1 (Chk1), a key cell cycle checkpoint and central regulator of the deoxyribonucleic acid (DNA) Damage Response (DDR) network.

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