Chardan Capital Reiterates Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

Key Points

• Chardan Capital reiterated a Buy rating on Stoke Therapeutics with a $35 price target, implying 18.4% upside from the prior close. The stock has a Moderate Buy consensus, with an average analyst target of $43.
• Stoke Therapeutics reported a quarterly loss of $0.93 per share, worse than the $0.80 consensus estimate, though revenue of $9.32 million exceeded expectations of $4.89 million.
• Shares opened at $29.56, with a market capitalization of approximately $1.84 billion. Institutional investors including Candriam and Janus Henderson increased their holdings, while two insiders sold shares under pre-arranged trading plans.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Chardan Capital in a research note issued on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock. Chardan Capital's price objective would indicate a potential upside of 18.40% from the stock's previous close.

Several other brokerages also recently commented on STOK. BTIG Research reaffirmed a "buy" rating and issued a $39.00 price objective on shares of Stoke Therapeutics in a research report on Monday, May 11th. Weiss Ratings downgraded Stoke Therapeutics from a "hold (c)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group began coverage on shares of Stoke Therapeutics in a research note on Monday, July 13th. They set a "buy" rating and a $44.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Stoke Therapeutics Price Performance

Shares of NASDAQ:STOK opened at $29.56 on Tuesday. Stoke Therapeutics has a 1 year low of $12.71 and a 1 year high of $40.22. The business has a 50 day simple moving average of $30.39 and a two-hundred day simple moving average of $32.00. The firm has a market capitalization of $1.84 billion, a PE ratio of -10.52 and a beta of 1.20.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.13). Stoke Therapeutics had a negative return on equity of 48.84% and a negative net margin of 529.20%.The business had revenue of $9.32 million during the quarter, compared to analysts' expectations of $4.89 million. Equities research analysts expect that Stoke Therapeutics will post -3.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Barry Ticho sold 1,795 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $30.58, for a total value of $54,891.10. Following the completion of the sale, the insider owned 34,826 shares of the company's stock, valued at $1,064,979.08. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of the business's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total value of $43,637.15. Following the transaction, the general counsel owned 18,086 shares in the company, valued at approximately $541,675.70. This trade represents a 7.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Stoke Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hussman Strategic Advisors Inc. purchased a new stake in Stoke Therapeutics in the fourth quarter valued at $2,000,000. Baillie Gifford & Co. purchased a new position in shares of Stoke Therapeutics during the 4th quarter valued at about $7,837,000. Candriam S.C.A. lifted its holdings in shares of Stoke Therapeutics by 12.4% in the 1st quarter. Candriam S.C.A. now owns 502,020 shares of the company's stock valued at $16,346,000 after buying an additional 55,330 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Stoke Therapeutics by 11.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,612,781 shares of the company's stock valued at $52,456,000 after buying an additional 161,848 shares during the period. Finally, Privium Fund Management B.V. purchased a new stake in shares of Stoke Therapeutics in the fourth quarter worth about $1,746,000.

Stoke Therapeutics Company Profile

Stoke Therapeutics, headquartered in Bedford, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing genetic medicines to upregulate protein production for the treatment of rare neuromuscular and neurological disorders. Founded in 2014, the company applies its proprietary Targeted Augmentation of Nuclear Gene Output (TANGO™) platform to design antisense oligonucleotides that selectively modulate RNA splicing and enhance expression of functional proteins.

The company's lead program, STK-001, is an antisense oligonucleotide therapy designed to increase production of the sodium channel protein SCN1A and is currently in clinical development for Dravet syndrome, a severe childhood-onset epilepsy.

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