TD Cowen analyst Yaron Werber has maintained their bullish stance on STOK stock, giving a Buy rating today.
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Yaron Werber has given his Buy rating due to a combination of factors including the strategic collaboration between Stoke Therapeutics and Biogen. This partnership is particularly significant as it involves the development and commercialization of zorevunersen for Dravet syndrome, with Biogen gaining exclusive rights outside of North America, while Stoke retains North American rights.
The collaboration not only provides a substantial upfront payment of $165 million to Stoke, but also aligns development costs and offers potential milestone and royalty payments. This financial backing extends Stoke’s cash runway to mid-2028, thereby eliminating the need for additional financing and reinforcing confidence in the success of the Phase 3 study, slated to begin in the second quarter of 2025. Biogen’s selection as a partner underscores their expertise and success in the field, further validating the potential of the project.
In another report released today, BTIG also reiterated a Buy rating on the stock with a $29.00 price target.