TD Cowen analyst Yaron Werber has maintained their bullish stance on STOK stock, giving a Buy rating today.
Yaron Werber’s rating is based on several compelling factors that highlight Stoke Therapeutics’ promising future. The company is on the verge of initiating its Phase 3 EMPEROR trial for zorevunersen, a potential first-line treatment for Dravet syndrome, which is a significant market opportunity with over 15,000 patients in the US and more than 38,000 globally. The strong data supporting zorevunersen’s disease-modifying potential positions it as a lucrative multi-billion-dollar opportunity, similar to Spinraza.
Additionally, the recent leadership transition, with Ed Kaye stepping down as CEO and Ian Smith taking over as interim CEO, is seen as a strategic move to bring in a leader with late-stage development and commercialization experience. The company’s solid financial position, with a cash runway extending to mid-2028 bolstered by a collaboration with Biogen, further supports the Buy rating. These factors collectively underscore the confidence in Stoke Therapeutics’ ability to capitalize on its market potential and advance its pipeline effectively.
In another report released today, Needham also maintained a Buy rating on the stock with a $22.00 price target.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STOK in relation to earlier this year.