Stoke Therapeutics (NASDAQ:STOK) Earns Buy Rating from Needham & Company LLC

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $22.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 68.58% from the company’s previous close.

Several other equities analysts have also recently weighed in on STOK. Leerink Partners started coverage on Stoke Therapeutics in a report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Stoke Therapeutics in a research report on Wednesday. Leerink Partnrs raised Stoke Therapeutics to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wedbush restated an “outperform” rating and issued a $17.00 target price on shares of Stoke Therapeutics in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.83.

Stoke Therapeutics Stock Down 0.4 %

NASDAQ STOK opened at $13.05 on Wednesday. The firm’s 50 day moving average is $13.25 and its 200-day moving average is $13.71. Stoke Therapeutics has a 12-month low of $3.77 and a 12-month high of $17.58. The company has a market capitalization of $687.06 million, a PE ratio of -5.99 and a beta of 0.95.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.11. The business had revenue of $4.83 million during the quarter, compared to analysts’ expectations of $3.33 million. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. As a group, sell-side analysts expect that Stoke Therapeutics will post -2.1 EPS for the current year.

Insider Buying and Selling at Stoke Therapeutics

In other news, major shareholder Skorpios Trust sold 1,937,500 shares of Stoke Therapeutics stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the completion of the sale, the insider now directly owns 8,906,181 shares of the company’s stock, valued at approximately $125,131,843.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC bought a new position in Stoke Therapeutics in the second quarter worth $29,000. Nisa Investment Advisors LLC boosted its stake in Stoke Therapeutics by 53.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after purchasing an additional 1,038 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Stoke Therapeutics during the second quarter valued at approximately $123,000. State Board of Administration of Florida Retirement System purchased a new stake in Stoke Therapeutics during the 1st quarter valued at $141,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Stoke Therapeutics by 16.7% during the second quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after purchasing an additional 1,994 shares during the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.