Scribe Therapeutics Inc. (NASDAQ:SCTX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Scribe Therapeutics Inc. (NASDAQ:SCTX) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $51.75.

Several equities research analysts recently issued reports on the stock. Leerink Partners assumed coverage on shares of Scribe Therapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $37.00 price target on the stock. Wall Street Zen upgraded shares of Scribe Therapeutics to a “hold” rating in a research report on Saturday, August 1st. Zacks Research raised shares of Scribe Therapeutics to a “hold” rating in a research report on Tuesday, September 1st. Weiss Ratings initiated coverage on Scribe Therapeutics in a research note on Tuesday, October 20th. They issued a “sell (e-)” rating for the company. Finally, Wells Fargo & Company assumed coverage on Scribe Therapeutics in a research report on Tuesday, August 18th. They set an “overweight” rating and a $60.00 target price on the stock.

Scribe Therapeutics Stock Performance

Scribe Therapeutics stock opened at $17.44 on Friday. Scribe Therapeutics has a 12-month low of $13.50 and a 12-month high of $39.60. The company has a 50-day simple moving average of $24.45. The company has a market capitalization of $330.17 million and a PE ratio of -1.60.

Scribe Therapeutics (NASDAQ:SCTX) last posted its earnings results on Wednesday, September 2nd. The company reported ($3.84) EPS for the quarter, topping analysts’ consensus estimates of ($6.20) by $2.36. The company had revenue of $1.92 million during the quarter, compared to the consensus estimate of $3.10 million. Research analysts forecast that Scribe Therapeutics will post -3.68 earnings per share for the current year.

Scribe Therapeutics Company Profile

Scribe Therapeutics is a biotechnology company focused on developing CRISPR-based genetic medicines. The company’s platform is designed to engineer CRISPR systems for improved precision, efficiency, delivery and safety in therapeutic applications.

Scribe’s research has included gene-editing approaches intended to address genetic and other serious diseases, with potential applications in areas such as neurology and immunology. Its technology portfolio is based on proprietary CRISPR systems and related delivery and editing capabilities, and the company has pursued collaborations with pharmaceutical and biotechnology partners.

Scribe Therapeutics was founded in 2018 and is headquartered in Alameda, California.