Brokerages predict that Sutro Biopharma Inc (NASDAQ:STRO) will announce $8.88 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sutro Biopharma’s earnings, with the lowest sales estimate coming in at $5.76 million and the highest estimate coming in at $11.25 million. Sutro Biopharma reported sales of $7.84 million during the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The firm is expected to report its next earnings report on Wednesday, November 13th.
On average, analysts expect that Sutro Biopharma will report full-year sales of $37.16 million for the current fiscal year, with estimates ranging from $30.67 million to $41.65 million. For the next year, analysts expect that the business will report sales of $36.35 million, with estimates ranging from $28.40 million to $45.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Sutro Biopharma.
Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.05). The firm had revenue of $10.53 million for the quarter, compared to the consensus estimate of $8.38 million.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Sutro Biopharma in a research note on Thursday, September 5th. BTIG Research began coverage on shares of Sutro Biopharma in a research note on Monday. They set a “buy” rating and a $19.00 price objective on the stock. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, HC Wainwright set a $18.00 price objective on shares of Sutro Biopharma and gave the stock a “buy” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $20.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Sutro Biopharma during the 2nd quarter worth approximately $3,669,000. Vanguard Group Inc. boosted its stake in Sutro Biopharma by 10.5% during the 2nd quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock worth $2,222,000 after acquiring an additional 18,482 shares during the last quarter. BlackRock Inc. boosted its stake in Sutro Biopharma by 72.4% during the 2nd quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after acquiring an additional 228,480 shares during the last quarter. Northern Trust Corp boosted its stake in Sutro Biopharma by 6.6% during the 2nd quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock worth $907,000 after acquiring an additional 4,910 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Sutro Biopharma by 104.8% in the second quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock valued at $347,000 after buying an additional 15,591 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ STRO traded up $0.23 during mid-day trading on Friday, hitting $9.35. The company’s stock had a trading volume of 1,390 shares, compared to its average volume of 86,440. The stock has a market cap of $206.19 million and a price-to-earnings ratio of -1.49. Sutro Biopharma has a one year low of $7.69 and a one year high of $14.99. The company’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $10.50.
Sutro Biopharma Company Profile
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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