Q2 2019 EPS Estimates for Sutro Biopharma Inc (NASDAQ:STRO) Reduced by Analyst

Sutro Biopharma Inc (NASDAQ:STRO) – Analysts at Piper Jaffray Companies lowered their Q2 2019 earnings estimates for shares of Sutro Biopharma in a note issued to investors on Wednesday, May 15th, Zacks Investment Research reports. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the company will post earnings per share of ($0.65) for the quarter, down from their previous forecast of ($0.62). Piper Jaffray Companies also issued estimates for Sutro Biopharma’s Q3 2019 earnings at ($0.69) EPS, Q4 2019 earnings at ($0.68) EPS, FY2019 earnings at ($2.64) EPS, Q1 2020 earnings at ($0.71) EPS, Q2 2020 earnings at ($0.77) EPS, Q3 2020 earnings at ($0.82) EPS, Q4 2020 earnings at ($1.00) EPS and FY2020 earnings at ($3.31) EPS.

Other analysts also recently issued research reports about the stock. HC Wainwright initiated coverage on shares of Sutro Biopharma in a research report on Monday, April 29th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Cowen reissued a “buy” rating on shares of Sutro Biopharma in a research report on Thursday, May 16th. Wedbush lifted their price target on shares of Sutro Biopharma from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.75.

NASDAQ STRO traded up $0.09 during mid-day trading on Monday, hitting $12.08. The company’s stock had a trading volume of 297,906 shares, compared to its average volume of 26,368. Sutro Biopharma has a twelve month low of $8.50 and a twelve month high of $15.90. The company has a market cap of $273.27 million and a P/E ratio of -1.97.

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in Sutro Biopharma during the 3rd quarter valued at $1,501,000. BlackRock Inc. bought a new position in Sutro Biopharma during the 3rd quarter valued at $5,098,000. American International Group Inc. bought a new position in Sutro Biopharma during the 4th quarter valued at $38,000. Geode Capital Management LLC bought a new position in Sutro Biopharma during the 4th quarter valued at $456,000. Finally, VV Manager LLC bought a new position in Sutro Biopharma during the 4th quarter valued at $8,349,000. Institutional investors and hedge funds own 49.00% of the company’s stock.

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.

Recommended Story: How does a 12b-1 fee affect fund performance?

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.