Stoke Therapeutics initiated with a Buy at Guggenheim

Guggenheim analyst Yatin Suneja initiated coverage of Stoke Therapeutics (STOK) with a Buy rating and $60 price target The firm has a positive view of the company’s lead asset, zorevunersen, an antisense oligonucleotide designed to restore SCN1A haploinsufficiency, the root cause of Dravet syndrome. Zorevunersen is the first drug showing disease-modifying potential in Dravet with benefit not only on seizure frequency but also on cognition, behavior and adaptive function, the analyst tells investors in a research note. It estimates $2.5B global peak sales for zorevunersen in Dravet.