Surrozen (NASDAQ:SRZN) Announces Earnings Results

Surrozen (NASDAQ:SRZN) announced its quarterly earnings data on Monday. The company reported ($11.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($9.92), FiscalAI reports. The business had revenue of $0.45 million for the quarter, compared to analyst estimates of $0.47 million.

Surrozen Trading Up 2.0%

Shares of Surrozen stock opened at $32.64 on Wednesday. The company’s fifty day simple moving average is $25.35 and its 200-day simple moving average is $25.36. Surrozen has a 1-year low of $11.73 and a 1-year high of $37.83.

Wall Street Analysts Forecast Growth

SRZN has been the topic of a number of analyst reports. 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 on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, October 15th. Cantor Fitzgerald lifted their price objective on Surrozen from $40.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $54.00 target price (up from $44.00) on shares of Surrozen in a report on Friday, September 25th. Finally, Zacks Research raised shares of Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned 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, the company has an average rating of “Moderate Buy” and an average price target of $55.67.

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.