SRRK Should I Buy
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BUY now. SRRK is pulling back modestly post-market (44.34) into a nearby support zone (43.29) while still maintaining a bullish longer-term moving-average structure (SMA_5 > SMA_20 > SMA_200). With multiple recent Buy/Overweight initiations and price-target raises (clustered in the low-to-high $50s) tied to improving confidence around apitegromab manufacturing remediation and launch trajectory, the risk/reward favors buying on this dip rather than waiting for a perfect entry.
Trend/structure remains constructive: moving averages are bullish (SMA_5 > SMA_20 > SMA_200), suggesting the broader uptrend is intact. However, near-term momentum has softened: MACD histogram is negative (-0.198) and expanding, implying short-term downside/mean-reversion risk. RSI_6 at 48.24 is neutral (no immediate oversold bounce signal). Key levels: price (44.34) is below the pivot (45.353). Immediate support is S1 43.287 (then S2 42.01). If buyers defend 43.29–42.01, the setup supports a rebound attempt back toward 45.35, then resistance at 47.42 (R1) and 48.70 (R2). Net: technicals favor buying near support, but expect some chop until price reclaims the pivot.
Wall Street sentiment is strongly positive with multiple Buy/Outperform/Overweight ratings and rising targets, driven by increasing confidence in apitegromab’s manufacturing remediation and launch execution.
Citi expects a near-term resolution of manufacturing issues with potential resubmission/approval timing around Q1
Commentary highlights de-risking actions (e.g., parallel supply chain / second fill-finish preparations) that can reduce execution uncertainty.
Pattern-based model suggests positive skew over the next week (+3.69% expectation) despite a slightly negative next-day bias.
Short-term momentum is weakening (negative, expanding MACD), raising the odds of a further dip toward 43.29 or 42.01 before a clean bounce.
Business remains pre-commercial with no meaningful revenue (biotech binary-risk profile); near-term performance remains sensitive to regulatory/manufacturing updates.
Put open interest slightly exceeds call open interest (OI put/call ~1.04), consistent with ongoing hedging around approval/manufacturing uncertainty.
No fresh news this week—near-term upside may rely more on technical reclaim of the pivot and broader biotech tape.
Latest reported quarter: 2025/Q3. Revenue was 0 (no commercial revenue yet). Losses improved materially: Net income was -$102.22M (58.53% YoY improvement) and EPS was -0.90 (36.36% YoY improvement). This shows cost/loss trend improvement, but the core growth inflection remains tied to regulatory/launch progress rather than current revenue acceleration.
Recent trend is decisively positive: multiple initiations and price-target increases from late 2025 through Jan 2026. Key changes include H.C. Wainwright raising PT to $58 (from $44) while reiterating Buy; Citi initiating Buy with $55; UBS initiating Buy with $60; Barclays raising to $52 and maintaining Overweight; JPMorgan raising to $47 with Overweight; BMO raising to $50 with Outperform. Wall Street pros: improving confidence in manufacturing remediation, launch de-risking (parallel supply chain/second facility), and blockbuster potential for apitegromab. Cons view: the remaining overhang is execution/regulatory timing around manufacturing, which can still drive volatility and delays.
