Stoke Therapeutics negative reaction after STK-001 update overdone, says Chardan

Chardan keeps a Buy rating and $24 price target on Stoke Therapeutics (STOK) after the company provided a “long-awaited” update for its Phase 3 study design and timeline of zorevunersen for the treatment of Dravet syndrome. While some investors appeared to be disappointed by the timeline, with study initiation in mid-2025 set to yield data by year-end 2027, the firm contends that the stock’s 15.5% decline was “overdone” and created an attractive buying opportunity, the analyst tells investors in a research note. Stoke remains a high conviction name, and today’s pivotal program update is a key de-risking event that supports a clear regulatory path forward and a high probability of success for this program, Chardan adds.