HC Wainwright Begins Coverage on Surrozen (NASDAQ:SRZN)

HC Wainwright initiated coverage on shares of Surrozen (NASDAQ:SRZN) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $32.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 175.86% from the company’s current price.

Separately, Guggenheim raised shares of Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Friday, January 3rd.

Surrozen Stock Performance

SRZN opened at $11.60 on Thursday. Surrozen has a 52 week low of $6.00 and a 52 week high of $18.17. The business has a fifty day simple moving average of $11.57 and a 200-day simple moving average of $10.13.

Surrozen (NASDAQ:SRZN) last released its earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($2.77) by $2.33. The firm had revenue of $10.00 million during the quarter.

Hedge Funds Weigh In On Surrozen

An institutional investor recently raised its position in Surrozen stock. Stonepine Capital Management LLC boosted its position in Surrozen, Inc. (NASDAQ:SRZN) by 66.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the company’s stock after acquiring an additional 43,916 shares during the quarter. Surrozen accounts for about 0.8% of Stonepine Capital Management LLC’s holdings, making the stock its 24th biggest holding. Stonepine Capital Management LLC owned 3.43% of Surrozen worth $1,318,000 at the end of the most recent reporting period. Institutional investors 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.