$9.58 Million in Sales Expected for Sutro Biopharma Inc (NASDAQ:STRO) This Quarter

Equities research analysts expect that Sutro Biopharma Inc (NASDAQ:STRO) will post $9.58 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Sutro Biopharma’s earnings, with the highest sales estimate coming in at $11.25 million and the lowest estimate coming in at $8.50 million. The company is expected to announce its next earnings results on Wednesday, August 21st.

According to Zacks, analysts expect that Sutro Biopharma will report full year sales of $37.38 million for the current financial year, with estimates ranging from $34.13 million to $42.38 million. For the next year, analysts expect that the business will report sales of $37.00 million, with estimates ranging from $30.00 million to $45.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sutro Biopharma.

A number of research firms have issued reports on STRO. Zacks Investment Research downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. ValuEngine upgraded shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Cowen restated a “buy” rating on shares of Sutro Biopharma in a research report on Thursday, May 16th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Sutro Biopharma in a research report on Tuesday, May 7th. Finally, Wedbush upped their target price on shares of Sutro Biopharma from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Sutro Biopharma currently has an average rating of “Buy” and a consensus price target of $22.75.

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

Sutro Biopharma stock opened at $12.09 on Thursday. Sutro Biopharma has a 1 year low of $8.50 and a 1 year high of $15.90. The stock has a market cap of $273.27 million and a price-to-earnings ratio of -1.97.

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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Earnings History and Estimates for Sutro Biopharma (NASDAQ:STRO)

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