In a report released today, Ananda Ghosh from H.C. Wainwright maintained a Buy rating on Stoke Therapeutics, with a price target of $35.00.
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Ananda Ghosh has given his Buy rating due to a combination of factors that highlight the promising potential of Stoke Therapeutics’ zorevunersen for treating Dravet syndrome. The 36-month open-label extension data demonstrates not only a durable reduction in major motor seizure frequency but also significant cognitive and behavioral improvements, which are crucial for patients with this condition. These findings suggest that zorevunersen could be the first disease-modifying therapy for Dravet syndrome, setting it apart from existing treatments that primarily focus on symptomatic relief.
Furthermore, the engagement with the FDA and the alignment of the Phase 3 EMPEROR trial endpoints with these validated outcomes enhance the credibility and potential success of the regulatory strategy. The consistent safety profile and the statistically significant improvements across various cognitive domains bolster the case for zorevunersen’s premium pricing and rapid market adoption. These factors, combined with the unmet need for cognitive improvement in Dravet syndrome, underpin Ghosh’s optimistic outlook and Buy rating for Stoke Therapeutics.
In another report released today, Needham also maintained a Buy rating on the stock with a $35.00 price target.
Based on the recent corporate insider activity of 43 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.