Piper Sandler Reiterates Overweight Rating on Sutro Biopharma (STRO)

Piper Sandler analyst Edward Tenthoff reiterated an Overweight rating and $11.00 price target on Sutro Biopharma (NASDAQ: STRO).

The analyst comments "At ESMO, initial Phase I/II data on 4.3mg/kg q3W luvelta in combination with Avastin (bevacizumab) achieved impressive 56% (5/9) ORR in late-stage ovarian cancer patients with expansion cohort data in 1H:25. In the pivotal REFRaME-O1 trial, Sutro enrolled 50 women with FolRα+ platinum-resistant ovarian cancer in the Phase II portion of the study to select dose ~YE:24, and is now enrolling ~516 women to monotherapy luvelta or chemotherapy. ReFRaME interim ORR/DoR analysis could support accelerated approval with final PFS/OS data for full approval. Sutro is enrolling FolRα+ NSCLC patients in the REFRaME-L1 Phase II study with initial data in 1H:25. Sutro will initiate the registrational REFRaME-P1 trial in CBF/GLIS pediatric AML in 2H:24. Sutro will host a virtual ADC Research event on October 10th. Sutro ended 2Q:24 with cash of $376 million, plus ~$77 million in PCVX shares. We reiterate our Overweight rating and $11 price target."

For an analyst ratings summary and ratings history on Sutro Biopharma click here. For more ratings news on Sutro Biopharma click here.

Shares of Sutro Biopharma closed at $3.70 yesterday.

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