Sutro Biopharma (NASDAQ:STRO) Posts Quarterly Earnings Results

Sutro Biopharma (NASDAQ:STRO) announced its quarterly earnings data 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 net margin of 74.61% and a negative return on equity of 94.18%. The firm had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million.

Sutro Biopharma Stock Performance

Sutro Biopharma stock traded up $0.20 during midday trading on Wednesday, hitting $3.42. 345,100 shares of the company were exchanged, compared to its average volume of 884,239. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The business has a fifty day simple moving average of $3.53 and a two-hundred day simple moving average of $4.05. The firm has a market capitalization of $279.72 million, a PE ratio of -1.84 and a beta of 1.22.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STRO shares. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a report on Wednesday. Wedbush reaffirmed 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 began coverage on shares of Sutro Biopharma in a research report on Wednesday, May 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Oppenheimer restated an “outperform” rating and set a $10.00 target price on shares of Sutro Biopharma in a research note on Wednesday, May 15th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Sutro Biopharma currently has an average rating of “Buy” and a consensus 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.