Analyst Reni Benjamin of JMP Securities reiterated a Buy rating on Sutro Biopharma (STRO – Research Report), with a price target of $17.00.
Reni Benjamin has assigned a Buy rating to Sutro Biopharma, influenced by a blend of promising clinical developments and strategic financial positioning. The company’s drug, luvelta, has shown significant potential in a rare pediatric leukemia, with the possibility of extending its application beyond its current use in platinum-resistant ovarian cancer. The analyst perceives the recent impressive deal-making within the antibody-drug conjugate (ADC) sector as indicative of the high value and potential in Sutro’s platform, which is expected to attract partners and investors. Furthermore, with Sutro’s solid cash reserves and a pipeline that includes multiple candidates being advanced by prominent partners, the company is seen as a compelling investment opportunity.
The optimism surrounding Sutro Biopharma is further bolstered by the safety profile and therapeutic efficacy of luvelta. At the 2023 ASH meeting, luvelta demonstrated a notable anti-leukemic activity in a challenging pediatric population, with a high percentage of complete responses and benefits observed in nearly all treated patients. The drug’s safety profile was characterized by minimal treatment-related adverse events, which allowed for outpatient treatment. Given these factors, including the potential for the drug to be used in earlier lines of therapy and the company’s commitment to support ongoing studies, Reni Benjamin justifies the Buy rating for Sutro Biopharma.
In another report released on November 29, Piper Sandler also reiterated a Buy rating on the stock with a $12.00 price target.
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Sutro Biopharma (STRO) Company Description:
Sutro Biopharma Inc. engages in the drug discovery, development and manufacturing of pharmaceutical products. Its products technologies include XpressCF, anti-body drug conjugates, bispecifics & engineered antibodies and cGMP facility. The company was founded by James R. Swartz and Sutanto Widjaja in June 2003 and is headquartered in South San Francisco, CA.
Read More on STRO:
- Sutro Biopharma Announces New Positive Data from the Compassionate Use of Luveltamab Tazevibulin (luvelta) in Pediatric Patients with Relapsed/Refractory CBF/GLIS Presented at ASH 2023
- Sutro Biopharma to Participate in the JMP Securities Hematology and Oncology Summit
- Vaxcyte in manufacturing pact with Sutro Biopharma for PCV franchise control
- Sutro Biopharma promotes Jane Chung to President and COO
- Sutro Biopharma Promotes Jane Chung to President and Chief Operating Officer
