Stoke Therapeutics price target raised to $17 from $13 at Wedbush

Wedbush raised the firm’s price target on Stoke Therapeutics to $17 from $13 and keeps an Outperform rating on the shares. The firm says the updated STK-001 data validates an efficacious regimen can not only generate meaningful seizure reductions in a refractory population, but can do so in a durable manner with signals of behavioral benefits. The 74% median seizure reductions observed 6-months post-treatment also includes two patients who reached seizure freedom — given the patient population, this is impressive in Wedbush’s view. Stoke also received clearance from FDA to administer three, 70mg STK-001 doses with 45mg maintenance thereafter which opens the door for alignment on a Phase 3 study design.