Equities analysts predict that Sutro Biopharma Inc (NASDAQ:STRO) will announce earnings of ($0.65) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sutro Biopharma’s earnings, with the lowest EPS estimate coming in at ($0.75) and the highest estimate coming in at ($0.47). Sutro Biopharma posted earnings of ($21.26) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 96.9%. The firm is expected to issue its next quarterly earnings report on Wednesday, November 13th.
According to Zacks, analysts expect that Sutro Biopharma will report full year earnings of ($2.53) per share for the current fiscal year, with EPS estimates ranging from ($2.73) to ($2.18). For the next year, analysts anticipate that the business will post earnings of ($2.91) per share, with EPS estimates ranging from ($3.58) to ($2.54). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Sutro Biopharma.
Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.05). The firm had revenue of $10.53 million during the quarter, compared to analyst estimates of $8.38 million.
STRO has been the topic of a number of research reports. Cowen reissued a “buy” rating on shares of Sutro Biopharma in a report on Sunday, June 16th. Deutsche Bank began coverage on shares of Sutro Biopharma in a research report on Thursday, July 18th. They issued a “buy” rating and a $22.00 price target on the stock. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Sutro Biopharma in a research report on Thursday, September 5th. Finally, Zacks Investment Research lowered shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Sutro Biopharma has an average rating of “Buy” and a consensus target price of $20.20.
Sutro Biopharma stock opened at $9.45 on Tuesday. Sutro Biopharma has a 12 month low of $7.69 and a 12 month high of $15.90. The company has a fifty day moving average price of $9.57 and a two-hundred day moving average price of $10.55. The company has a market cap of $216.67 million and a PE ratio of -1.54.
A number of large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG acquired a new stake in Sutro Biopharma in the fourth quarter worth $87,000. Acadian Asset Management LLC grew its position in shares of Sutro Biopharma by 1,365.7% during the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after acquiring an additional 8,440 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Sutro Biopharma by 240.7% during the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock worth $130,000 after acquiring an additional 8,113 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of Sutro Biopharma during the first quarter worth about $168,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sutro Biopharma by 72.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock worth $258,000 after acquiring an additional 9,482 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.
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.
Recommended Story: Trading Ex-Dividend
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sutro Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sutro Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.