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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STOK:
- Stoke Therapeutics Gains Regulatory Alignment for Phase 3 Study
- Stoke Therapeutics finalizes EMPEROR study program with regulatory agencies
- GeneDx (WGS), An Emerging Powerhouse in Genomics Sees Explosive Growth
- Stoke Therapeutics initiated with a Buy at Chardan
- Stoke Therapeutics Gains FDA Breakthrough for Epilepsy Drug