Sutro Biopharma (NASDAQ:STRO)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Monday, AnalystRatings.com reports. They currently have a $18.00 target price on the stock. HC Wainwright’s target price would suggest a potential upside of 73.58% from the stock’s current price.
Several other equities research analysts have also weighed in on STRO. ValuEngine raised Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BTIG Research assumed coverage on Sutro Biopharma in a research note on Monday, October 7th. They set a “buy” rating and a $19.00 price objective for the company. Deutsche Bank assumed coverage on Sutro Biopharma in a research note on Thursday, July 18th. They set a “buy” rating and a $22.00 price objective for the company. Zacks Investment Research lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Sutro Biopharma in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $19.40.
STRO opened at $10.37 on Monday. The firm has a market cap of $230.44 million and a PE ratio of -1.69. The business has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $10.42. Sutro Biopharma has a fifty-two week low of $7.69 and a fifty-two week high of $14.75.
Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.05). The firm had revenue of $10.53 million during the quarter, compared to analyst estimates of $8.38 million. On average, equities research analysts expect that Sutro Biopharma will post -2.51 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of Sutro Biopharma by 1,365.7% in the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after buying an additional 8,440 shares during the period. Wells Fargo & Company MN boosted its position in shares of Sutro Biopharma by 240.7% in the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock worth $130,000 after buying an additional 8,113 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Sutro Biopharma by 72.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock worth $258,000 after buying an additional 9,482 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Sutro Biopharma by 104.8% in the second quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after buying an additional 15,591 shares during the period. Finally, Creative Planning acquired a new stake in shares of Sutro Biopharma in the second quarter worth $359,000. 51.18% of the stock is owned by institutional investors and hedge funds.
About Sutro Biopharma
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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