Scribe Therapeutics Inc. (NASDAQ:SCTX) Stock Has Average Target Price of $51.75 According to Brokerages

Shares of Scribe Therapeutics Inc. (NASDAQ:SCTX) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $51.75.

Several brokerages recently issued reports on SCTX. Wells Fargo & Company began coverage on shares of Scribe Therapeutics in a report on Tuesday, August 18th. They set an “overweight” rating and a $60.00 target price for the company. Wall Street Zen upgraded shares of Scribe Therapeutics to a “hold” rating in a research report on Saturday, August 1st. Leerink Partners began coverage on shares of Scribe Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 price target on the stock. HC Wainwright began coverage on Scribe Therapeutics in a research report on Monday, August 31st. They set a “buy” rating and a $60.00 price target on the stock. Finally, Zacks Research raised Scribe Therapeutics to a “hold” rating in a research report on Tuesday, September 1st.

Scribe Therapeutics Stock Performance

Shares of NASDAQ:SCTX opened at $15.96 on Friday. Scribe Therapeutics has a twelve month low of $13.50 and a twelve month high of $39.60. The stock has a 50 day simple moving average of $24.91.

Scribe Therapeutics (NASDAQ:SCTX) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported ($3.84) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.20) by $2.36. The business had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $3.10 million. On average, 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.