In a report released today, Reni Benjamin from JMP Securities reiterated a Buy rating on Sutro Biopharma (STRO – Research Report), with a price target of $17.00.
Reni Benjamin has given his Buy rating due to a combination of factors involving Sutro Biopharma’s solid financial position and promising pipeline. The company’s robust cash reserves, coupled with higher than anticipated revenues, provide a strong financial foundation. Furthermore, the advancement of luvelta through a pivotal trial for ovarian cancer, with the potential to be a first-in-class treatment for a broad patient group, significantly bolsters the company’s prospects. The potential upside of the stock, as estimated by Benjamin, far outweighs the potential downside, presenting an attractive risk-reward scenario for investors.
Additionally, Sutro Biopharma’s diverse pipeline, including a platform technology with several therapeutic candidates, adds to the optimism surrounding the company. The planned Investigational New Drug (IND) submissions for other promising candidates like STRO-003 and the company’s strategy to expand luvelta’s indications beyond ovarian cancer into other tumor types, further underpin the positive outlook. With these strategic developments and the progression of clinical trials, Reni Benjamin’s Buy rating reflects confidence in Sutro’s ability to deliver value to shareholders through its innovative treatments and research advancements.
According to TipRanks, Benjamin is an analyst with an average return of -5.6% and a 34.21% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Blueprint Medicines, and Incyte.
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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.
