Surrozen, Inc. (NASDAQ:SRZN) Stock Has Average Target Price of $48.33 According to Brokerages

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $48.33.

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $54.00 target price (up from $44.00) on shares of Surrozen in a research report on Friday, September 25th. William Blair initiated coverage on shares of Surrozen in a report on Thursday, August 20th. They issued an “outperform” rating and a $51.00 target price for the company. Zacks Research upgraded shares of Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, October 15th.

Surrozen Trading Up 6.9%

SRZN stock opened at $31.00 on Friday. The firm has a 50-day moving average price of $24.94 and a 200-day moving average price of $25.24. The stock has a market capitalization of $359.91 million, a P/E ratio of -0.76 and a beta of 0.51. Surrozen has a 12 month low of $11.51 and a 12 month high of $37.83.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.88. The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.47 million. As a group, equities analysts predict that Surrozen will post -1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Surrozen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new stake in shares of Surrozen in the 1st quarter valued at about $6,682,000. Renaissance Technologies LLC raised its stake in shares of Surrozen by 117.1% in the 1st quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after acquiring an additional 26,500 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Surrozen in the 2nd quarter valued at about $399,000. ADAR1 Capital Management LLC acquired a new stake in Surrozen during the 1st quarter valued at $350,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Surrozen by 37.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,000 shares of the company’s stock valued at $160,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.

Surrozen Company Profile

Surrozen, Inc is a clinical-stage biotechnology company focused on developing regenerative medicines that selectively activate the Wnt signaling pathway. Wnt signaling plays an important role in tissue development, repair and regeneration, and Surrozen is working to harness the pathway while limiting the potential safety risks associated with broad or uncontrolled activation.

The company uses its SWEETS (Surrozen Wnt Engineered Efficacious Therapeutics) platform to discover and engineer antibody-based medicines designed to modulate Wnt signaling in specific tissues.