Sutro Biopharma (NASDAQ:STRO) Announces Quarterly Earnings Results

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

Sutro Biopharma Trading Up 16.7 %

Shares of STRO traded up $0.60 during mid-day trading on Thursday, reaching $4.19. The company’s stock had a trading volume of 925,590 shares, compared to its average volume of 887,066. The stock has a market cap of $342.70 million, a P/E ratio of -2.07 and a beta of 1.22. Sutro Biopharma has a 1-year low of $2.01 and a 1-year high of $6.13. The business has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $4.05.

Analysts Set New Price Targets

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

Sutro Biopharma Company Profile

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.