Surface Oncology (SURF) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Surface Oncology (NASDAQ:SURF) from a sell rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Surface Oncology, Inc. is a clinical-stage immuno-oncology company. It develops therapies for the treatment of cancer. The company’s product pipeline includes CD47, CD73, SRF231, SRF373, SRF617, SRF388 and SRF231 which are in clinical stage. Surface Oncology is based in Cambridge, Massachusetts. “

Other equities analysts have also issued reports about the company. Robert W. Baird assumed coverage on Surface Oncology in a report on Tuesday, September 18th. They set an outperform rating and a $23.00 price objective for the company. Cowen reissued a buy rating on shares of Surface Oncology in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $20.25.

SURF stock opened at $9.08 on Friday. Surface Oncology has a 12-month low of $8.43 and a 12-month high of $18.18.

Surface Oncology (NASDAQ:SURF) last released its earnings results on Tuesday, August 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.03. The business had revenue of $2.43 million during the quarter. On average, sell-side analysts anticipate that Surface Oncology will post -2.38 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SURF. Atlas Venture Associates IX LLC bought a new position in Surface Oncology during the second quarter valued at $75,767,000. Victory Capital Management Inc. bought a new position in Surface Oncology during the second quarter valued at $9,263,000. Dean Capital Investments Management LLC bought a new position in Surface Oncology during the second quarter valued at $489,000. Bank of New York Mellon Corp bought a new position in Surface Oncology during the second quarter valued at $248,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Surface Oncology during the second quarter valued at $518,000. 63.32% of the stock is owned by institutional investors and hedge funds.

Surface Oncology Company Profile

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies. The company's lead product candidate is the SRF231 that is in Phase I clinical trial targeting protein called cluster of differentiation (CD) 47. It is also developing SRF373 inhibiting CD73; SRF617 inhibiting CD39; and SRF388, an antibody targeting interleukin 27.

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