Citizens Lifts PT on Sutro Biopharma (STRO) on Its Pipeline and Lead Program

Sutro Biopharma, Inc. (NASDAQ:STRO) is one of the best performing small cap stocks so far in 2026. Citizens lifted the price target on Sutro Biopharma, Inc. (NASDAQ:STRO) to $41 from $35 on April 23, reaffirming an Outperform rating on the shares. The firm told investors in a research note that the recent AACR presentations highlighted strong preclinical results across Sutro’s pipeline, including data suggesting that its lead program, STRO-004, may outperform existing therapies and promising durability from a partnered candidate. Citizens added that with advancing clinical progress, potential best-in-class data by mid-2026, and solid cash reserves, Sutro Biopharma, Inc. (NASDAQ:STRO) is viewed as undervalued despite a sharp year-to-date rally.

Previously, Citizens lifted the price target on Sutro Biopharma, Inc. (NASDAQ:STRO) to $35 from $23 on April 17 and maintained an Outperform rating on the shares. It told investors in a research note that it continues to believe that the company’s shares are undervalued amid the rapid progress in the clinic, a growing pipeline of clinical candidates across novel targets, the potential for STRO-004 to report best-in-class efficacy and safety by mid-2026, and a solid cash position of $212 million.

Sutro Biopharma, Inc. (NASDAQ:STRO) is involved in the drug discovery, development, and manufacturing of pharmaceutical products, with a focus on the next-generation cancer and autoimmune therapeutics.

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