Analysts Expect Sutro Biopharma, Inc. (NASDAQ:STRO) Will Announce Quarterly Sales of $12.60 …
Equities analysts expect that Sutro Biopharma, Inc. (NASDAQ:STRO) will post $12.60 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Sutro Biopharma’s earnings, with estimates ranging from $7.00 million to $19.54 million. Sutro Biopharma reported sales of $11.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.4%. The company is expected to issue its next earnings report on Monday, March 15th.
According to Zacks, analysts expect that Sutro Biopharma will report full year sales of $45.13 million for the current year, with estimates ranging from $39.40 million to $53.99 million. For the next year, analysts forecast that the firm will report sales of $22.84 million, with estimates ranging from $8.37 million to $45.00 million. Zacks’ 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 quarterly earnings data on Thursday, November 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.96. The firm had revenue of $17.82 million during the quarter, compared to the consensus estimate of $8.71 million. Sutro Biopharma had a negative net margin of 43.34% and a negative return on equity of 53.40%.
Several brokerages have recently commented on STRO. ValuEngine downgraded shares of Sutro Biopharma from a “buy” rating to a “hold” rating in a research note on Thursday, December 3rd. Jefferies Financial Group initiated coverage on shares of Sutro Biopharma in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target for the company. Piper Sandler increased their price target on shares of Sutro Biopharma from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Stifel Nicolaus initiated coverage on shares of Sutro Biopharma in a research note on Wednesday, December 2nd. They issued a “buy” rating and a $25.00 price target for the company. Finally, BidaskClub raised shares of Sutro Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $18.64.
Shares of NASDAQ:STRO opened at $21.13 on Monday. The company has a market cap of $815.70 million, a price-to-earnings ratio of -19.21 and a beta of 0.58. The company has a 50-day moving average price of $16.53 and a 200-day moving average price of $11.38. The company has a current ratio of 7.29, a quick ratio of 7.29 and a debt-to-equity ratio of 0.12. Sutro Biopharma has a 12 month low of $6.00 and a 12 month high of $25.49.
In other news, insider Trevor Hallam sold 2,393 shares of the firm’s stock in a transaction on Friday, November 27th. The shares were sold at an average price of $17.01, for a total transaction of $40,704.93. Following the sale, the insider now directly owns 39,105 shares in the company, valued at approximately $665,176.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Gordon Freund sold 400,000 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $12.00, for a total transaction of $4,800,000.00. The disclosure for this sale can be found here. Insiders sold 420,119 shares of company stock worth $5,101,973 over the last quarter. Insiders own 28.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in shares of Sutro Biopharma during the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. raised its position in Sutro Biopharma by 80.6% during the third quarter. Meeder Asset Management Inc. now owns 4,659 shares of the company’s stock worth $47,000 after acquiring an additional 2,079 shares during the period. Prospera Financial Services Inc acquired a new position in Sutro Biopharma during the third quarter worth $56,000. BNP Paribas Arbitrage SA raised its position in Sutro Biopharma by 646.3% during the third quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock worth $62,000 after acquiring an additional 5,358 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in Sutro Biopharma by 1,815.5% during the third quarter. Cubist Systematic Strategies LLC now owns 10,229 shares of the company’s stock worth $103,000 after acquiring an additional 9,695 shares during the period. Hedge funds and other institutional investors own 67.96% 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 and site-specific conjugation platform, XpressCF. The company’s product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with 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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Published at Mon, 14 Dec 2020 09:11:15 +0000