Thursday, 18 April 2024
Trending

[the_ad_group id="2845"]

Business News

Sutro Biopharma Buy Rating Justified by Strategic Partnerships and Promising Pipeline – TipRanks Financial Blog

LNG Energy Group Announces Additional Shareholder Alignment Initiatives – TipRanks Financial Blog

[the_ad id="21475"]

[ad_1]

Sutro Biopharma (STROResearch Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Reni Benjamin from JMP Securities reiterated a Buy rating on the stock and has a $17.00 price target.

Reni Benjamin has given his Buy rating due to a combination of factors that underscore Sutro Biopharma’s promising financial and strategic position. Primarily, the recent acquisition by Ipsen of the global rights for STRO-003, an innovative ROR1-targeting ADC, serves as a significant validation of Sutro’s platform and potential market impact. The deal brings substantial upfront payment, equity investment at a premium, and the promise of future milestone payments and royalties. Additionally, Sutro’s other product, luvelta, is advancing in a registrational study and may become a first-in-class therapy. These elements, coupled with Sutro’s strong cash position post-financing and partnerships advancing other candidates, contribute to Benjamin’s positive outlook on the stock.

Furthermore, the licensing agreement with Ipsen not only provides immediate financial benefits but also offloads the developmental responsibilities and costs onto Ipsen, which could mitigate Sutro’s risks and operational expenses. The prospects of additional milestone payments and royalties from Ipsen, assuming the clinical success of STRO-003, offer a lucrative financial outlook for Sutro. Moreover, the company’s platform technology is not limited to STRO-003, as it continues to innovate with planned submissions for other therapeutics, such as STRO-004. These strategic developments, combined with a robust pro forma cash position, position Sutro Biopharma favorably in the market, justifying Benjamin’s Buy rating.

Benjamin covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Blueprint Medicines, and Sutro Biopharma. According to TipRanks, Benjamin has an average return of -4.0% and a 36.62% success rate on recommended stocks.

In another report released yesterday, Truist Financial also maintained a Buy rating on the stock with a $18.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Sutro Biopharma (STRO) Company Description:

Sutro Biopharma Inc….

Click Here to Read the Full Original Article at TipRanks Financial Blog…

[ad_2]

[the_ad id="21476"]