Shares of biotech company Stoke Therapeutics (NASDAQ: STOK) crashed more than 20% in today’s trading session. This can be attributed to early data for its seizure medication during its Phase 1/2a trials.
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The medication was well tolerated but 15 out of the 55 patients experienced mild to moderate drug-related treatment-emergent adverse events. Nevertheless, it did not lead to withdrawals from the study. In addition, the patients who received three doses at 45mg saw a 55% median reduction in seizure frequency.
However, analyst Thomas Shrader shared his concern that the development of the treatment could slow down as a result of a safety finding that increased protein in the cerebrospinal fluid.
Is Stoke Therapeutics Stock a Good Buy?
Stoke Therapeutics stock has a Strong Buy consensus rating based on five Buys assigned in the past three months. The average Stoke Therapeutics stock price target of $37 implies over 300% upside potential.
