Sutro Biopharma gains as Oppenheimer initiates coverage with 'outperform'

ImmunoGen

06/10/2023 17:59

** Shares of drug developer Sutro Biopharma  STRO.O  rise
~14% to $3.85 
    ** Brokerage Oppenheimer initiates coverage with
"outperform" rating, sets PT at $10
    ** The price target represents a near three-fold upside to
the stock's last close at $3.38
    ** Brokerage says co's ovarian cancer drug, Luvelta, has a
potentially superior profile compared to ImmunoGen's  IMGN.O 
Elahere  
        ** 9 of 10 brokerages rate STRO "buy" or higher and 1
"hold"; their median PT is $17
    ** Including session moves, stock down ~53.4% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))