Guggenheim Upgrades Surrozen (NASDAQ:SRZN) to “Buy”

Surrozen (NASDAQ:SRZN) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The brokerage currently has a $45.00 price objective on the stock. Guggenheim’s target price would suggest a potential upside of 164.39% from the stock’s current price.

Surrozen Trading Up 19.4 %

Shares of SRZN opened at $17.02 on Friday. Surrozen has a 12 month low of $6.00 and a 12 month high of $18.17. The stock has a fifty day moving average price of $10.92 and a 200-day moving average price of $9.90.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($2.77) by $2.33. The business had revenue of $10.00 million during the quarter. As a group, analysts forecast that Surrozen will post -7.16 earnings per share for the current year.

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently bought and sold shares of SRZN. Nantahala Capital Management LLC acquired a new stake in shares of Surrozen during the second quarter worth about $2,050,000. Stonepine Capital Management LLC purchased a new position in Surrozen in the second quarter valued at $724,000. CVI Holdings LLC acquired a new position in Surrozen during the 2nd quarter worth $711,000. Finally, Armistice Capital LLC purchased a new stake in Surrozen during the 2nd quarter worth about $2,080,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

About Surrozen

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.