JPM downgrades Surrozen to 'underweight' rating

Surrozen

29/11/2022 07:22

** J.P.Morgan downgrades U.S. drug developer Surrozen
 SRZN.O  to "underweight" from "neutral"
    ** Sees formidable risks for the future of the company’s
pipeline and overall platform
    ** "In view of an uncertain catalyst outlook and potential
dilutive pressures prior to meaningful clinical data, we see
SRZN shares underperforming relative to our broader coverage
over the mid-term" - JPM    
    ** One of four brokerages rates the stock "strong buy", two
"hold", and one "sell"; their median PT is $2.50 - Refinitiv
    ** Shares down around 88% so far this year
 (Reporting by Subhadeep Chakravarty in Bengaluru)
 ((subhadeep.chakravarty@thomsonreuters.com))