Surrozen (NASDAQ:SRZN) Given New $62.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its Surrozen price target to $62 from $40 and maintained an “overweight” rating, implying 93.75% upside from the prior close.
• Analyst sentiment is broadly positive: Surrozen has a “Moderate Buy” consensus rating and an average price target of $55.67, though one analyst rates it a sell.
• Surrozen reported a quarterly loss of $11.02 per share, substantially worse than the $1.10 loss analysts expected; revenue was $0.45 million versus $0.47 million expected.

Surrozen (NASDAQ:SRZN - Get Free Report) had its price objective increased by analysts at Cantor Fitzgerald from $40.00 to $62.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective indicates a potential upside of 93.75% from the stock's previous close.

SRZN has been the topic of several other research reports. HC Wainwright reaffirmed a "buy" rating and set a $54.00 price target (up from $44.00) on shares of Surrozen in a research report on Friday, September 25th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surrozen in a research report on Thursday, October 15th. William Blair initiated coverage on Surrozen in a report on Thursday, August 20th. They issued an "outperform" rating and a $51.00 price objective for the company. Finally, Zacks Research upgraded Surrozen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Surrozen Price Performance

NASDAQ SRZN opened at $32.00 on Tuesday. Surrozen has a 52 week low of $11.66 and a 52 week high of $37.83. The company's fifty day simple moving average is $25.14 and its 200-day simple moving average is $25.30.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported ($11.02) EPS for the quarter, missing analysts' consensus estimates of ($1.10) by ($9.92). The business had revenue of $0.45 million for the quarter, compared to analysts' expectations of $0.47 million. On average, equities research analysts expect that Surrozen will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On Surrozen

Several large investors have recently modified their holdings of SRZN. China Universal Asset Management Co. Ltd. boosted its holdings in Surrozen by 37.0% during the third 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. Bank of New York Mellon Corp bought a new position in shares of Surrozen in the second quarter valued at approximately $399,000. Perceptive Advisors LLC acquired a new position in shares of Surrozen in the 1st quarter worth approximately $6,682,000. ADAR1 Capital Management LLC acquired a new position in shares of Surrozen in the 1st quarter worth approximately $350,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Surrozen by 117.1% in the 1st quarter. Renaissance Technologies LLC now owns 49,126 shares of the company's stock worth $1,431,000 after acquiring an additional 26,500 shares in the last quarter. 66.57% of the stock is owned by institutional investors.

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.

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