Analysts predict that Sutro Biopharma Inc (NASDAQ:STRO) will announce sales of $8.88 million for the current quarter, according to Zacks. Four analysts have made estimates for Sutro Biopharma’s earnings. The lowest sales estimate is $5.76 million and the highest is $11.25 million. Sutro Biopharma posted sales of $7.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 13th.

According to Zacks, analysts expect that Sutro Biopharma will report full-year sales of $37.16 million for the current financial year, with estimates ranging from $30.67 million to $41.65 million. For the next financial year, analysts anticipate that the company will post sales of $36.35 million, with estimates ranging from $28.40 million to $45.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Sutro Biopharma.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.05). The company had revenue of $10.53 million for the quarter, compared to analyst estimates of $8.38 million.

STRO has been the subject of several recent analyst reports. HC Wainwright set a $18.00 target price on shares of Sutro Biopharma and gave the company a “buy” rating in a research note on Monday, June 24th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Sutro Biopharma in a research report on Thursday, September 5th. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Deutsche Bank initiated coverage on shares of Sutro Biopharma in a research note on Thursday, July 18th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Cowen reissued a “buy” rating on shares of Sutro Biopharma in a research note on Sunday, June 16th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $20.20.

A number of hedge funds have recently modified their holdings of STRO. Jennison Associates LLC boosted its stake in Sutro Biopharma by 3.6% in the first quarter. Jennison Associates LLC now owns 137,788 shares of the company’s stock valued at $1,569,000 after acquiring an additional 4,741 shares during the last quarter. Northern Trust Corp lifted its stake in Sutro Biopharma by 6.6% in the 2nd quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock worth $907,000 after purchasing an additional 4,910 shares in the last quarter. SG Americas Securities LLC lifted its stake in Sutro Biopharma by 40.6% in the 1st quarter. SG Americas Securities LLC now owns 26,380 shares of the company’s stock worth $300,000 after purchasing an additional 7,619 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Sutro Biopharma by 240.7% in the 2nd 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 last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Sutro Biopharma by 1,365.7% in the 2nd 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 last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Shares of Sutro Biopharma stock traded down $0.18 during trading hours on Thursday, reaching $10.70. 105,197 shares of the company’s stock were exchanged, compared to its average volume of 74,840. The company has a 50 day moving average of $9.43 and a two-hundred day moving average of $10.58. Sutro Biopharma has a fifty-two week low of $7.69 and a fifty-two week high of $15.90. The stock has a market cap of $245.35 million and a P/E ratio of -1.75.

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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Earnings History and Estimates for Sutro Biopharma (NASDAQ:STRO)

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