$8.88 Million in Sales Expected for Sutro Biopharma Inc (NASDAQ:STRO) This Quarter

Equities analysts expect that Sutro Biopharma Inc (NASDAQ:STRO) will post sales of $8.88 million for the current quarter, Zacks reports. Four analysts have provided estimates for Sutro Biopharma’s earnings, with estimates ranging from $5.76 million to $11.25 million. Sutro Biopharma posted sales of $7.84 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The business is expected to issue its next earnings results on Wednesday, November 13th.

On average, analysts expect that Sutro Biopharma will report full year sales of $37.16 million for the current financial year, with estimates ranging from $30.67 million to $41.65 million. For the next financial year, analysts forecast that the company will report sales of $36.35 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 analysts that follow Sutro Biopharma.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.05). The company had revenue of $10.53 million during the quarter, compared to the consensus estimate of $8.38 million.

A number of research firms have commented on STRO. Zacks Investment Research lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 17th. ValuEngine raised Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Cowen reaffirmed a “buy” rating on shares of Sutro Biopharma in a research report on Sunday, June 16th. HC Wainwright set a $18.00 price target on Sutro Biopharma and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Sutro Biopharma in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $20.00.

Several large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Sutro Biopharma in the 2nd quarter worth approximately $3,669,000. Vanguard Group Inc. raised its position in shares of Sutro Biopharma by 10.5% in 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 in the last quarter. BlackRock Inc. raised its position in shares of Sutro Biopharma by 72.4% in 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 in the last quarter. Northern Trust Corp raised its position in shares of Sutro Biopharma by 6.6% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Sutro Biopharma by 104.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after acquiring an additional 15,591 shares in the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.

STRO stock traded up $0.23 during trading on Friday, hitting $9.35. 1,390 shares of the company traded hands, compared to its average volume of 86,440. The company has a 50-day moving average of $9.20 and a 200-day moving average of $10.50. The firm has a market capitalization of $206.19 million and a PE ratio of -1.49. Sutro Biopharma has a 1 year low of $7.69 and a 1 year high of $14.99.

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.

Further Reading: Straddles

Get a free copy of the Zacks research report on Sutro Biopharma (STRO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.