Surrozen (NASDAQ:SRZN) Upgraded by Guggenheim to Buy Rating

Surrozen (NASDAQ:SRZN) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a $45.00 price target on the stock. Guggenheim’s price objective suggests a potential upside of 164.39% from the stock’s previous close.

Surrozen Trading Up 19.4 %

Shares of NASDAQ: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 company’s fifty day moving average price is $10.92 and its 200 day moving average price is $9.90.

Surrozen (NASDAQ:SRZN) last posted 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. On average, analysts anticipate that Surrozen will post -7.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Surrozen

Several large investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new stake in Surrozen in the 2nd quarter valued at $2,080,000. CVI Holdings LLC acquired a new position in Surrozen in the second quarter valued at $711,000. Nantahala Capital Management LLC purchased a new stake in shares of Surrozen in the second quarter valued at about $2,050,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Surrozen during the second quarter worth about $724,000. 66.57% of the stock is owned by institutional investors and hedge funds.

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.