Leerink Partners analyst Marc Goodman has maintained their bullish stance on STOK stock, giving a Buy rating yesterday.
Marc Goodman has given his Buy rating due to a combination of factors surrounding Stoke Therapeutics. The confirmation of the Phase 3 trial initiation for zorevunersen, following FDA alignment and a collaboration with Biogen, is a significant positive development. This collaboration promises to enhance the development and commercialization of the therapy for Dravet syndrome, which is expected to be a game-changer due to its potential to improve not only seizure reduction but also cognition and behavior in patients.
Despite the unexpected resignation of CEO Ed Kaye, the management’s strategic transition to a commercial CEO aligns with the company’s current trajectory and financial stability. With a strong cash position of $247 million, supplemented by Biogen’s upfront payment and potential proceeds, Stoke Therapeutics is well-funded to continue its operations through mid-2028. These factors contribute to the optimistic outlook for the company’s future, justifying the Buy rating.
Goodman covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Evolus, and Stoke Therapeutics. According to TipRanks, Goodman has an average return of 4.6% and a 45.42% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $47.00 price target.