Zacks Investment Research Lowers Surface Oncology (SURF) to Sell

Share on StockTwits

Zacks Investment Research cut shares of Surface Oncology (NASDAQ:SURF) from a hold rating to a sell rating in a report issued on Saturday morning.

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. “

A number of other research firms also recently issued reports on SURF. Cowen reissued a buy rating on shares of Surface Oncology in a report on Tuesday, August 14th. Evercore ISI initiated coverage on shares of Surface Oncology in a report on Monday, May 14th. They issued an outperform rating and a $26.00 price objective on the stock. Finally, Goldman Sachs Group initiated coverage on shares of Surface Oncology in a report on Monday, May 14th. They issued a neutral rating and a $17.00 price objective on the stock.

Shares of NASDAQ SURF opened at $10.10 on Friday. Surface Oncology has a 52-week low of $9.02 and a 52-week high of $18.18.

Surface Oncology (NASDAQ:SURF) last announced its quarterly earnings results on Tuesday, August 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The company had revenue of $2.43 million for the quarter. sell-side analysts forecast that Surface Oncology will post -2.67 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of SURF. Bank of New York Mellon Corp purchased a new position in shares of Surface Oncology in the second quarter worth approximately $248,000. Laurion Capital Management LP purchased a new position in shares of Surface Oncology in the second quarter worth approximately $326,000. Dean Capital Investments Management LLC purchased a new position in shares of Surface Oncology in the second quarter worth approximately $489,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Surface Oncology in the second quarter worth approximately $518,000. Finally, Bank of America Corp DE purchased a new position in shares of Surface Oncology in the second quarter worth approximately $1,317,000. 19.07% of the stock is currently owned by institutional investors.

About Surface Oncology

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.

Further Reading: Fundamental Analysis

Get a free copy of the Zacks research report on Surface Oncology (SURF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Surface Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surface Oncology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply