Cowen Reaffirms “Buy” Rating for Sutro Biopharma (NASDAQ:STRO)

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Cowen reiterated their buy rating on shares of Sutro Biopharma (NASDAQ:STRO) in a research report sent to investors on Sunday, June 16th, Stock Target Advisor reports.

A number of other research firms have also issued reports on STRO. HC Wainwright set a $18.00 price target on Sutro Biopharma and gave the stock a buy rating in a report on Friday, May 17th. ValuEngine lowered Sutro Biopharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Wedbush raised their price target on Sutro Biopharma from $20.00 to $22.00 and gave the stock an outperform rating in a report on Monday, March 4th. Finally, Zacks Investment Research lowered Sutro Biopharma from a hold rating to a sell rating in a report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sutro Biopharma presently has an average rating of Buy and an average target price of $22.75.

Shares of STRO stock traded down $0.13 during mid-day trading on Friday, hitting $11.62. 9,589 shares of the stock were exchanged, compared to its average volume of 33,543. The firm’s fifty day moving average price is $11.20. The company has a market capitalization of $260.89 million and a PE ratio of -1.90. Sutro Biopharma has a 12-month low of $8.50 and a 12-month high of $15.90.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). The business had revenue of $8.63 million during the quarter, compared to the consensus estimate of $8.92 million. As a group, analysts forecast that Sutro Biopharma will post -2.4 EPS for the current year.

A number of large investors have recently made changes to their positions in STRO. American International Group Inc. acquired a new position in shares of Sutro Biopharma during the 4th quarter worth approximately $38,000. Deutsche Bank AG purchased a new stake in Sutro Biopharma in the 4th quarter worth approximately $87,000. Spark Investment Management LLC purchased a new stake in Sutro Biopharma in the 1st quarter worth approximately $168,000. SG Americas Securities LLC purchased a new stake in Sutro Biopharma in the 4th quarter worth approximately $169,000. Finally, Geode Capital Management LLC purchased a new stake in Sutro Biopharma in the 4th quarter worth approximately $456,000. Hedge funds and other institutional investors own 49.00% of the company’s stock.

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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Analyst Recommendations for Sutro Biopharma (NASDAQ:STRO)

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