Wall Street brokerages expect Sutro Biopharma Inc (NASDAQ:STRO) to post sales of $8.38 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Sutro Biopharma’s earnings. The lowest sales estimate is $4.76 million and the highest is $11.25 million. The firm is expected to issue its next earnings results on Wednesday, August 21st.
According to Zacks, analysts expect that Sutro Biopharma will report full year sales of $33.76 million for the current financial year, with estimates ranging from $22.90 million to $42.38 million. For the next year, analysts expect that the business will report sales of $34.85 million, with estimates ranging from $28.40 million to $45.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Sutro Biopharma.
Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to the consensus estimate of $8.92 million.
A number of equities research analysts have commented on the stock. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research reaffirmed a “hold” rating on shares of Sutro Biopharma in a research report on Saturday, June 29th. HC Wainwright set a $18.00 target price on shares of Sutro Biopharma and gave the company a “buy” rating in a research report on Monday, June 24th. Cowen reaffirmed a “buy” rating on shares of Sutro Biopharma in a research report on Sunday, June 16th. Finally, Deutsche Bank assumed coverage on shares of Sutro Biopharma in a research report on Thursday, July 18th. They issued a “buy” rating and a $22.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.60.
Shares of NASDAQ:STRO traded down $0.30 during trading hours on Friday, reaching $11.00. The stock had a trading volume of 7,988 shares, compared to its average volume of 24,058. Sutro Biopharma has a 1 year low of $8.50 and a 1 year high of $15.90. The business’s 50 day moving average is $11.51. The stock has a market cap of $259.06 million and a PE ratio of -1.79.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. purchased a new position in shares of Sutro Biopharma in the 4th quarter valued at $38,000. Deutsche Bank AG acquired a new stake in Sutro Biopharma during the 4th quarter worth $87,000. Spark Investment Management LLC acquired a new stake in Sutro Biopharma during the 1st quarter worth $168,000. SG Americas Securities LLC boosted its stake in Sutro Biopharma by 40.6% during the 1st quarter. SG Americas Securities LLC now owns 26,380 shares of the company’s stock worth $300,000 after purchasing an additional 7,619 shares during the period. Finally, Creative Planning acquired a new stake in Sutro Biopharma during the 2nd quarter worth $359,000. 49.01% of the stock is currently owned by hedge funds and other institutional investors.
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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