Sutro Biopharma (NASDAQ:STRO) Announces Earnings Results, Beats Expectations By $0.09 EPS

Sutro Biopharma (NASDAQ:STRO) posted its quarterly earnings data on Friday, November 8th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.09, Fidelity Earnings reports. The business had revenue of $12.28 million for the quarter, compared to the consensus estimate of $8.88 million.

Shares of NASDAQ:STRO opened at $11.25 on Tuesday. Sutro Biopharma has a fifty-two week low of $7.69 and a fifty-two week high of $12.49. The firm has a fifty day moving average price of $10.47 and a 200 day moving average price of $10.40. The firm has a market cap of $255.84 million, a price-to-earnings ratio of -1.84 and a beta of 1.12.

A number of brokerages recently weighed in on STRO. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Sutro Biopharma in a research report on Monday, October 21st. ValuEngine cut shares of Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Sutro Biopharma in a report on Thursday, September 5th. BTIG Research initiated coverage on shares of Sutro Biopharma in a report on Monday, October 7th. They set a “buy” rating and a $19.00 target price for the company. Finally, Zacks Investment Research cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.40.

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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