Here’s Why Scholar Rock Holding Corporation (SRRK) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Scholar Rock Holding Corporation (NASDAQ:SRRK) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A scientist holding a flask of liquid in a laboratory, highlighting the research and discoveries of new treatments.

Scholar Rock Holding Corporation (NASDAQ:SRRK)

Q4 Returns as of December 31, 2024: 440%

In Q4 2024, SRRK’s stock price returned nearly 440%, going from $8.01 on September 30 to $43.22 on December 31, 2024. The increase can be attributed to its expanding position in its underlying biotechnology prowess and growing drug portfolio.

Not only does the Street weigh positively on the stock, but analyst firm Wedbush also raised its target price for SRRK to $50 from $40 earlier, while HC Wainwright & Co. increased its price target to $47 from $40.

SRRK is expected to carry momentum, which is evident from its research and development allocated to drug discovery and development. Aligning with its goal, Scholar Rock Holding Corp (NASDAQ:SRRK) completed several trials in the third quarter of 2024 and reported positive data from the Phase 3 trials of its leading drug, SAPPHIRE.

Overall SRRK ranks 3rd on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of SRRK as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SRRK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.