Sierra Oncology is a ‘Buy’ at H.C. Wainwright

 

• H.C. Wainwright resumes coverage on Sierra Oncology (SRRA) with a ‘Buy’ rating. The price target of $29 is almost double the stock’s yesterday’s close.
• The analyst, Joseph Pantginis notes “Sierra is in a strong position to deliver a differentiated drug for the treatment of myelofibrosis with a projected launch in 2023”.
• Sierra’s candidate against myelofibrosis is undergoing a global, randomized, double-blind Phase 3 study with top-line data anticipated in H1 2022.
• A positive outcome for the ongoing trial will establish the drug as a key player, the analyst comments, ‘even in the face of market leader Jakafi, which has some of its own pitfalls.’
• https://seekingalpha.com/news/3643660-sierra-oncology-is-buy-h-c-wainwright