Sutro Biopharma (NASDAQ:STRO) Issues Earnings Results

Sutro Biopharma (NASDAQ:STRO) announced its quarterly earnings results on Tuesday. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.20, Yahoo Finance reports. The company had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%.

Sutro Biopharma Trading Up 16.7 %

NASDAQ:STRO traded up $0.60 during midday trading on Thursday, hitting $4.19. 925,590 shares of the stock were exchanged, compared to its average volume of 887,066. The business has a 50-day moving average price of $3.52 and a two-hundred day moving average price of $4.05. The company has a market capitalization of $342.70 million, a price-to-earnings ratio of -2.07 and a beta of 1.22. Sutro Biopharma has a one year low of $2.01 and a one year high of $6.13.

Analyst Ratings Changes

Several research analysts recently commented on STRO shares. Oppenheimer restated an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a report on Wednesday, May 15th. Wedbush restated an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, May 14th. Bank of America initiated coverage on Sutro Biopharma in a report on Wednesday, May 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Buy” and an average target price of $12.50.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.