Surrozen (NASDAQ:SRZN) Issues Quarterly Earnings Results

Surrozen (NASDAQ:SRZN) released its earnings results on Monday. The company reported ($11.02) EPS for the quarter, missing the consensus estimate of ($1.10) by ($9.92), FiscalAI reports.

Surrozen Trading Up 3.2%

SRZN stock traded up $1.00 during midday trading on Monday, hitting $32.00. The company’s stock had a trading volume of 120,850 shares, compared to its average volume of 258,997. The firm’s 50-day moving average is $24.94 and its 200-day moving average is $25.24. Surrozen has a 12 month low of $11.66 and a 12 month high of $37.83. The company has a market cap of $371.52 million, a PE ratio of -0.79 and a beta of 0.51.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. William Blair initiated coverage on Surrozen in a research report on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research note on Thursday, October 15th. HC Wainwright reissued a “buy” rating and set a $54.00 price objective (up from $44.00) on shares of Surrozen in a research report on Friday, September 25th. Finally, Zacks Research upgraded shares of Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Surrozen has an average rating of “Moderate Buy” and an average target price of $48.33.

Surrozen Company Profile

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.