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Sutro Biopharma (NASDAQ:STRO) Raised to "Overweight" at Wells Fargo & Company
Wells Fargo & Company upgraded Sutro Biopharma (NASDAQ:STRO) from “Equal Weight” to “Overweight” and significantly increased its price target from $8.00 to $27.00, implying a 26.58% upside. Despite the upgrade, Sutro Biopharma reported a quarterly EPS miss of -$5.39 and continues to show negative margins and return on equity, though revenue beat estimates. The stock has a mixed analyst view with a “Hold” consensus rating and an average target price of $34.33, with institutional investors showing recent activity in their holdings.