Deutsche Bank analyst James Shin initiated coverage of Sutro Biopharma (STRO) with a Buy rating and $12 price target. The analyst believes STRO-002 has an opportunity to be the second folate-receptor-alpha directed antibody drug conjugate for ovarian cancer patients behind ImmunoGen’s (IMGN) Elahere. With the shares essentially below Sutro’s cash value of $4, the current valuation presents a favorable risk/reward for investors that can wait for REFRaME’s primary completion, slated for the second half of 2025, the analyst tells investors in a research note.
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