Cantor Fitzgerald Forecasts Strong Price Appreciation for Surrozen (NASDAQ:SRZN) Stock

Surrozen (NASDAQ:SRZN) had its price objective lifted by Cantor Fitzgerald from $40.00 to $62.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price target suggests a potential upside of 93.75% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. William Blair initiated coverage on shares of Surrozen in a research note on Thursday, August 20th. They issued an “outperform” rating and a $51.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a report on Thursday, October 15th. 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. Finally, Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Surrozen has a consensus rating of “Moderate Buy” and an average target price of $55.67.

Surrozen Stock Up 3.2%

Surrozen stock opened at $32.00 on Tuesday. The stock has a 50-day simple moving average of $25.14 and a 200 day simple moving average of $25.30. Surrozen has a 12-month low of $11.66 and a 12-month high of $37.83.

Surrozen (NASDAQ:SRZN) 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. Sell-side analysts anticipate that Surrozen will post -1.01 EPS for the current year.

Hedge Funds Weigh In On Surrozen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Perceptive Advisors LLC acquired a new position in shares of Surrozen during the 1st quarter worth approximately $6,682,000. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 26,500 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Surrozen in the 2nd quarter valued at about $399,000. ADAR1 Capital Management LLC bought a new stake in Surrozen in the 1st quarter valued at about $350,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Surrozen by 37.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,000 shares of the company’s stock worth $160,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.

About Surrozen

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.