Surrozen, Inc. (NASDAQ:SRZN) Stock Has Consensus Price Target of $48.33

Key Points

• Analysts give Surrozen a “Moderate Buy” consensus: Four of seven analysts rate the stock a buy, one a strong buy, one a hold, and one a sell. The average 12-month price target is $48.33.
• Surrozen shares opened at $31.00, with a 52-week range of $11.51 to $37.83. HC Wainwright raised its price target to $54 from $44, while William Blair set a $51 target.
• The clinical-stage biotech reported quarterly EPS of -$0.41, beating the -$1.29 consensus estimate; revenue was $5 million versus a $0.47 million estimate. Institutional investors own 66.57% of the stock.

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $48.33.

A number of research analysts have issued reports on SRZN shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Surrozen in a report on Thursday, October 15th. William Blair assumed coverage on Surrozen in a research note on Thursday, August 20th. They issued an "outperform" rating and a $51.00 price target on the stock. Zacks Research raised shares of Surrozen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, HC Wainwright restated a "buy" rating and set a $54.00 price objective (up from $44.00) on shares of Surrozen in a report on Friday, September 25th.

Surrozen Stock Performance

SRZN stock opened at $31.00 on Friday. The stock's fifty day moving average is $24.94 and its two-hundred day moving average is $25.24. The stock has a market capitalization of $359.91 million, a price-to-earnings ratio of -0.76 and a beta of 0.51. Surrozen has a 1 year low of $11.51 and a 1 year high of $37.83.

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

Hedge Funds Weigh In On Surrozen

Large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its stake in Surrozen by 37.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,000 shares of the company's stock worth $160,000 after buying an additional 1,350 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Surrozen in the 2nd 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 bought a new position in Surrozen during the first quarter valued at about $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. Hedge funds and other 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.

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