Surrozen (NASDAQ:SRZN) Raised to Buy at Guggenheim

Surrozen (NASDAQ:SRZN) was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 215.79% from the company’s current price.

Surrozen Trading Down 0.7 %

Shares of SRZN opened at $14.25 on Friday. Surrozen has a fifty-two week low of $6.00 and a fifty-two week high of $16.19. The firm has a 50-day simple moving average of $10.78 and a 200-day simple moving average of $9.86.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.77) by $2.33. The firm had revenue of $10.00 million during the quarter. Equities research analysts predict that Surrozen will post -7.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surrozen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRZN. CVI Holdings LLC purchased a new stake in Surrozen in the 2nd quarter valued at about $711,000. Stonepine Capital Management LLC purchased a new position in Surrozen in the second quarter valued at about $724,000. Nantahala Capital Management LLC acquired a new position in Surrozen during the 2nd quarter worth approximately $2,050,000. Finally, Armistice Capital LLC acquired a new position in shares of Surrozen during the second quarter worth $2,080,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Surrozen Company Profile

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.