Stoke Therapeutics (NASDAQ:STOK) Given New $58.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity lowered Stoke Therapeutics’ price target to $58 from $60 but maintained a “Buy” rating, implying roughly 96% upside from the referenced $29.56 share price. Analysts overall rate the stock “Moderate Buy,” with an average target of $42.83.
• Stoke reported quarterly revenue of $9.32 million, above the $4.89 million consensus estimate, but posted an adjusted loss of $0.93 per share versus expectations of $0.80. The company continues to face significant operating losses, including a negative net margin of 529.2%.
• Investors remain focused on development of zorevunersen (formerly STK-001), the company’s investigational treatment for Dravet syndrome, while several institutional investors increased their holdings during the second quarter.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) had its price target lowered by analysts at Canaccord Genuity Group from $60.00 to $58.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 96.21% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. BTIG Research reiterated a "buy" rating and issued a $39.00 target price on shares of Stoke Therapeutics in a research note on Monday, May 11th. Chardan Capital restated a "buy" rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Tuesday. Weiss Ratings downgraded shares of Stoke Therapeutics from a "hold (c)" rating to a "sell (d)" rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group started coverage on shares of Stoke Therapeutics in a research note on Monday, July 13th. They issued a "buy" rating and a $44.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.83.

Stoke Therapeutics Stock Performance

STOK stock opened at $29.56 on Tuesday. The stock has a fifty day moving average of $30.39 and a 200-day moving average of $32.00. Stoke Therapeutics has a fifty-two week low of $12.71 and a fifty-two week high of $40.22. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -10.52 and a beta of 1.20.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.13). The firm had revenue of $9.32 million during the quarter, compared to the consensus estimate of $4.89 million. Stoke Therapeutics had a negative net margin of 529.20% and a negative return on equity of 48.84%. Equities analysts predict that Stoke Therapeutics will post -3.22 EPS for the current 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 shares were sold at an average price of $30.58, for a total transaction of $54,891.10. Following the sale, the insider owned 34,826 shares in the company, valued at approximately $1,064,979.08. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jonathan Allan sold 1,457 shares of Stoke Therapeutics stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $29.95, for a total transaction of $43,637.15. Following the sale, the general counsel directly owned 18,086 shares of the company's stock, valued at $541,675.70. This 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.

Hedge Funds Weigh In On Stoke Therapeutics

Institutional investors have recently modified their holdings of the company. Tema ETFs LLC lifted its position in Stoke Therapeutics by 16.1% in the 2nd quarter. Tema ETFs LLC now owns 9,917 shares of the company's stock worth $324,000 after buying an additional 1,377 shares during the last quarter. Generali Investments Management Co LLC grew its position in Stoke Therapeutics by 379.6% during the second quarter. Generali Investments Management Co LLC now owns 33,149 shares of the company's stock valued at $1,085,000 after acquiring an additional 26,237 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Stoke Therapeutics by 24.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,128,388 shares of the company's stock worth $36,921,000 after acquiring an additional 221,373 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Stoke Therapeutics by 22.6% during the second quarter. Versant Capital Management Inc now owns 1,951 shares of the company's stock worth $64,000 after acquiring an additional 359 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of Stoke Therapeutics during the first quarter worth approximately $55,000.

Key Stories Impacting Stoke Therapeutics

Here are the key news stories impacting Stoke Therapeutics this week:

• Positive Sentiment: Chardan Capital reaffirmed its “Buy” rating and assigned a $35 price target, implying approximately 18% upside from the referenced $29.56 level. This provides a positive analyst catalyst for STOK. Benzinga analyst rating report
• Positive Sentiment: Second-quarter revenue was about $9.3 million, well above the $4.89 million consensus estimate. The result suggests stronger-than-anticipated revenue generation and may help offset concerns about the company’s ongoing cash burn. Zacks second-quarter earnings report
• Neutral Sentiment: Management provided business updates on zorevunersen, Stoke’s lead investigational RNA medicine and potential disease-modifying treatment for Dravet syndrome, including progress in its global development program. Investors are likely focused on clinical execution and future regulatory milestones. Stoke Therapeutics second-quarter business update
• Neutral Sentiment: Brokerages collectively rate STOK “Moderate Buy,” indicating generally favorable but not uniformly bullish expectations. Brokerage recommendation report
• Negative Sentiment: Stoke reported a quarterly loss of $0.93 per share, missing estimates of roughly $0.80–$0.82 and widening from a $0.40 loss a year earlier. Its negative net margin and return on equity underscore continued substantial operating losses. Stoke Therapeutics earnings report

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.