Mizuho initiated coverage of Sutro Biopharma (STRO) with an Outperform rating and $50 price target The firm believes the company’s antibody-drug conjugate pipeline is positioned to reproduce a proven development framework. The company’s lead programs STRO-004 and STRO-006 are positioned for broad solid tumor utility, the analyst tells investors in a research note. Mizuho says STRO-004 and STRO-006 have opportunity across multiple blockbuster solid tumor opportunities which support $800M in risk-adjusted worldwide sales by 2035.
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