Sierra Oncology (NASDAQ:SRRA – Get Rating) had its target price hoisted by analysts at Oppenheimer from $38.00 to $45.00 in a report released on Monday, The Fly reports. Oppenheimer’s price target points to a potential upside of 39.58% from the stock’s current price.
Several other equities research analysts have also commented on SRRA. Cantor Fitzgerald upped their price objective on Sierra Oncology from $33.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 30th. Zacks Investment Research upgraded Sierra Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, January 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 price objective (up from $35.00) on shares of Sierra Oncology in a research note on Monday, January 31st.
NASDAQ:SRRA opened at $32.24 on Monday. The firm has a market capitalization of $485.37 million, a price-to-earnings ratio of -4.53 and a beta of 0.57. Sierra Oncology has a one year low of $14.91 and a one year high of $35.86. The business has a fifty day moving average price of $27.18 and a 200-day moving average price of $23.63.
In other Sierra Oncology news, insider William D. Turner sold 10,000 shares of the stock in a transaction on Monday, February 7th. The stock was sold at an average price of $32.32, for a total value of $323,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gaurav Aggarwal purchased 800,000 shares of the business’s stock in a transaction on Monday, January 31st. The stock was acquired at an average price of $27.00 per share, with a total value of $21,600,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,125,000 shares of company stock valued at $30,375,000 and sold 19,000 shares valued at $576,010. Corporate insiders own 67.68% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Elmwood Wealth Management Inc. purchased a new position in shares of Sierra Oncology during the fourth quarter valued at about $25,000. JPMorgan Chase & Co. grew its position in shares of Sierra Oncology by 1,200.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,300 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,200 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sierra Oncology during the fourth quarter valued at about $79,000. Citigroup Inc. purchased a new position in shares of Sierra Oncology during the fourth quarter valued at about $160,000. Finally, Jackson Square Capital LLC purchased a new position in shares of Sierra Oncology during the third quarter valued at about $201,000.
About Sierra Oncology
Sierra Oncology, Inc is a clinical stage drug development company of therapeutics for the treatment of cancer. The firm focuses on advancing targeted therapeutics for the treatment of patients with significant unmet medical needs in hematology and oncology. Its product Momelotinib, a selective and orally-bioavailable JAK1, JAK2 & ACVR1 inhibitor with a differentiated therapeutic profile in myelofibrosis encompassing robust constitutional symptom improvements.