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Monday, November 30, 2020

The Rejuvenation of Sierra Oncology Inc. (NASDAQ:SRRA)

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Sierra Oncology Inc. (SRRA) shares are trading at higher $12.97 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $22.00 and the low is $8.55. Over the last 52 weeks, SRRA is down -41.05% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SRRA reported a profit of $24000.0. Sierra Oncology Inc. also saw revenues decrease to $16.45 million. In addition, SRRA has free cash flow of -$24.24 million as of 06-2020. The company’s EBITDA came in at -$16.39 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SRRA has a short ratio of 0.17 and outstanding shares of 11.07M.

Company Outlook

SRRA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 10050.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -25.86. Sierra Oncology Inc. SRRA also noted assets of $125.89 million at the end of the last quarter. Investors should also keep an eye on sector updates as SRRA has historically followed its peers on positive news.

All told, Sierra Oncology Inc. SRRA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SRRA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Sierra Oncology Inc. SRRA is now commanding a market cap of 143.58M and a float of 9.97M. SRRA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SRRA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SRRA, either long or short, and we have not been compensated for this article.

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