HC Wainwright Has Positive View of Surrozen FY2030 Earnings

Key Points

• HC Wainwright raised its FY2030 EPS estimate for Surrozen to a loss of $4.34 per share from a prior estimate of $5.53, while maintaining a “Buy” rating and $54 price target.
• Surrozen’s latest quarterly results beat expectations, reporting a loss of $0.41 per share versus the $1.29 consensus loss, alongside $5.0 million in revenue compared with estimates of $0.47 million.
• Analyst sentiment is mixed but leans positive: Surrozen has a “Moderate Buy” consensus rating and an average price target of $48.33, while the stock recently traded at $29.64.

Surrozen, Inc. (NASDAQ:SRZN - Free Report) - Analysts at HC Wainwright lifted their FY2030 earnings per share estimates for shares of Surrozen in a research report issued on Friday, September 25th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of ($4.34) for the year, up from their previous forecast of ($5.53). HC Wainwright has a "Buy" rating and a $54.00 price target on the stock. The consensus estimate for Surrozen's current full-year earnings is ($1.01) per share.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($1.29) by $0.88. The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $0.47 million.

A number of other analysts have also weighed in on the stock. William Blair assumed coverage on shares of Surrozen in a research note on Thursday, August 20th. They issued an "outperform" rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Surrozen in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Surrozen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.33.

Surrozen Trading Up 0.3%

Surrozen stock opened at $29.64 on Tuesday. The stock has a market cap of $344.12 million, a price-to-earnings ratio of -0.73 and a beta of 0.56. The company's 50-day moving average price is $22.04 and its two-hundred day moving average price is $24.91. Surrozen has a 52 week low of $11.39 and a 52 week high of $37.83.

Insider Buying and Selling

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the transaction, the insider owned 574,047 shares of the company's stock, valued at $12,198,498.75. The trade was a 36.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 31.74% of the company's stock.

Institutional Trading of Surrozen

Several institutional investors have recently made changes to their positions in the stock. 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 bought a new position in Surrozen during the first quarter valued at approximately $6,682,000. ADAR1 Capital Management LLC bought a new position in Surrozen during the first quarter valued at approximately $350,000. Renaissance Technologies LLC lifted its stake in Surrozen by 117.1% in the first 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 last quarter. Finally, Eversept Partners LP lifted its stake in Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company's stock valued at $2,153,000 after acquiring an additional 18,289 shares during the last quarter. 66.57% of the stock is currently owned by institutional investors and hedge funds.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company developing regenerative medicines designed to activate the Wnt signaling pathway. Wnt signaling plays an important role in tissue development, repair and regeneration, and Surrozen's approach is intended to stimulate the pathway selectively in specific tissues while limiting unwanted effects elsewhere in the body.

The company's product candidates are based on engineered antibody therapeutics and its proprietary SWEETS platform. Surrozen has focused its research on potential treatments for diseases affecting the liver, gastrointestinal system and eyes, where impaired tissue repair or abnormal signaling may contribute to disease progression.

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