Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on Stoke Therapeutics (STOK – Research Report) and keeping the price target at $47.00.
Andrew Fein’s rating is based on a combination of promising clinical trial results and strategic corporate developments at Stoke Therapeutics. The company has successfully completed a Phase 1/2 trial for its drug candidate, zorevunersen, which showed significant potential in reducing seizure frequency in a disease area lacking approved treatments. The data from these trials have led to global regulatory alignment for a Phase 3 trial, indicating strong validation of the results and paving the way for future commercialization efforts.
Additionally, the transition to a new CEO with commercial expertise and a strategic partnership with Biogen are seen as positive steps towards Stoke’s evolution into a commercial-stage company. The well-designed EMPEROR trial, which is aligned with regulatory agencies in the US, EU, and Japan, further strengthens the company’s position. These factors, combined with the potential for mergers and acquisitions based on the quality of the Phase 3 data, contribute to Fein’s optimistic outlook and Buy rating for Stoke Therapeutics.
In another report released today, Chardan Capital also reiterated a Buy rating on the stock with a $24.00 price target.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STOK in relation to earlier this year.