Surrozen (NASDAQ:SRZN) Price Target Raised to $62.00

Surrozen (NASDAQ:SRZN) had its price objective raised by Cantor Fitzgerald from $40.00 to $62.00 in a research note released on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a report on Thursday, October 15th. Zacks Research raised shares of Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. HC Wainwright reiterated a “buy” rating and set a $54.00 price objective (up from $44.00) on shares of Surrozen in a research note on Friday, September 25th. Finally, William Blair began coverage on shares of Surrozen in a research report on Thursday, August 20th. They set an “outperform” rating and a $51.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.75.

Surrozen Stock Performance

Shares of NASDAQ SRZN opened at $31.67 on Tuesday. Surrozen has a 1-year low of $12.12 and a 1-year high of $37.83. The business has a fifty day moving average price of $25.72 and a 200 day moving average price of $25.48.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Monday, November 9th. The company reported ($11.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($9.92). On average, research analysts predict that Surrozen will post -10.89 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRZN. Perceptive Advisors LLC acquired a new stake in Surrozen in the first quarter worth about $6,682,000. Renaissance Technologies LLC grew its stake in shares of Surrozen by 117.1% during the first 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 during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Surrozen during the first quarter valued at about $350,000. Bank of New York Mellon Corp acquired a new position in shares of Surrozen during the second quarter valued at about $399,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 acquiring an additional 1,350 shares in the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Company Profile

Surrozen, Inc. is a biotechnology company developing antibody-based medicines designed to activate the Wnt signaling pathway, which plays a role in tissue growth and repair. The company uses its proprietary platform to develop therapies intended to stimulate regeneration in specific tissues while limiting effects elsewhere in the body. Surrozen’s research has included candidates aimed at liver disease and inflammatory bowel disease, including SZN-043 and SZN-1326. Its work focuses on advancing potential treatments through research and clinical development; the company’s products are investigational and are not approved medicines.