FY2024 EPS Estimates for Sutro Biopharma Boosted by Analyst

Sutro Biopharma, Inc. (NASDAQ:STRO) – Equities researchers at Wedbush raised their FY2024 earnings per share (EPS) estimates for Sutro Biopharma in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($2.93) per share for the year, up from their prior forecast of ($3.14). The consensus estimate for Sutro Biopharma’s current full-year earnings is ($2.89) per share. Wedbush also issued estimates for Sutro Biopharma’s Q4 2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.92) EPS, Q2 2025 earnings at ($0.60) EPS, Q3 2025 earnings at ($0.60) EPS, Q4 2025 earnings at ($0.64) EPS, FY2025 earnings at ($2.66) EPS, FY2026 earnings at ($2.52) EPS and FY2027 earnings at ($1.56) EPS.

Several other research firms have also recently issued reports on STRO. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a report on Monday, September 16th. Piper Sandler restated an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Finally, Truist Financial lowered their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.14.

Sutro Biopharma Trading Down 1.8 %

Shares of NASDAQ:STRO opened at $2.70 on Monday. The firm has a market cap of $222.64 million, a price-to-earnings ratio of -1.68 and a beta of 1.17. The stock’s 50-day moving average price is $3.68 and its two-hundred day moving average price is $3.82. Sutro Biopharma has a 12-month low of $2.13 and a 12-month high of $6.13.

Institutional Investors Weigh In On Sutro Biopharma

Several hedge funds have recently modified their holdings of STRO. Gladius Capital Management LP purchased a new position in shares of Sutro Biopharma during the 3rd quarter valued at approximately $28,000. ProShare Advisors LLC raised its stake in Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after buying an additional 5,373 shares in the last quarter. Lazard Asset Management LLC bought a new position in Sutro Biopharma during the 1st quarter worth approximately $92,000. Price T Rowe Associates Inc. MD grew its position in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Sutro Biopharma in the 3rd quarter valued at approximately $91,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

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.