Stoke Therapeutics price target lowered to $25 from $33 at Wedbush

Wedbush analyst Laura Chico lowered the firm’s price target on Stoke Therapeutics to $25 from $33 and keeps an Outperform rating on the shares. The firm notes that overall, the Stoke Q4/2022 update was largely as anticipated, with key events still to come in 2023. Most in focus for investors this year will be upcoming data from the ongoing MONARCH and ADMIRAL studies for STK-001 in Dravet Syndrome. While both updates will be important for advancement, Wedbush does think higher-dosing data in ADMIRAL may have potential to show greater benefit. With Phase 3 efforts kicking off in 2024, the firm is pushing out its STK-001 launch timing by one year.