Stoke Therapeutics (NASDAQ:STOK) Price Target Raised to $35.00 at Needham & Company LLC

Key Points

• Needham & Company LLC raised the price target for Stoke Therapeutics from $22.00 to $35.00, indicating a potential upside of 17.06% from the last close.
• Stoke Therapeutics reported a quarterly earnings result of ($0.40) per share, surpassing estimates by $0.17, with revenues of $13.82 million which fell short of expectations.
• Insider trading activity revealed significant sales, with General Counsel Jonathan Allan selling 14,922 shares, representing a 45.08% decrease in their position.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) had its price target increased by equities research analysts at Needham & Company LLC from $22.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 17.06% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. BTIG Research set a $28.00 price objective on Stoke Therapeutics and gave the company a "buy" rating in a research report on Monday, August 18th. Chardan Capital reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, August 13th. Wedbush upped their price objective on Stoke Therapeutics from $16.00 to $22.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Stoke Therapeutics in a research report on Wednesday. Finally, Jefferies Financial Group began coverage on Stoke Therapeutics in a research report on Friday, July 18th. They issued a "buy" rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $27.43.

Stoke Therapeutics Stock Down 2.0%

Stoke Therapeutics stock opened at $29.90 on Friday. The company has a market capitalization of $1.64 billion, a P/E ratio of 35.18 and a beta of 1.24. The stock's 50 day moving average is $20.63 and its 200 day moving average is $13.67. Stoke Therapeutics has a twelve month low of $5.35 and a twelve month high of $32.40.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.17. The company had revenue of $13.82 million for the quarter, compared to the consensus estimate of $31.51 million. Stoke Therapeutics had a return on equity of 18.32% and a net margin of 26.25%. As a group, equities analysts expect that Stoke Therapeutics will post -2.01 EPS for the current year.

Insider Activity

In related news, General Counsel Jonathan Allan sold 14,922 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $20.14, for a total value of $300,529.08. Following the transaction, the general counsel directly owned 18,176 shares of the company's stock, valued at approximately $366,064.64. This trade represents a 45.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Barry Ticho sold 5,501 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $19.87, for a total value of $109,304.87. Following the completion of the transaction, the insider directly owned 18,469 shares in the company, valued at approximately $366,979.03. This represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,180 shares of company stock valued at $3,379,406 in the last ninety days. 9.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stoke Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in Stoke Therapeutics by 67.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 900,272 shares of the company's stock worth $21,156,000 after buying an additional 362,299 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Stoke Therapeutics in the 2nd quarter worth $7,489,000. Osaic Holdings Inc. increased its stake in Stoke Therapeutics by 263.3% in the 2nd quarter. Osaic Holdings Inc. now owns 7,488 shares of the company's stock worth $85,000 after buying an additional 5,427 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Stoke Therapeutics by 461.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,370 shares of the company's stock worth $50,000 after buying an additional 3,591 shares in the last quarter. Finally, Opaleye Management Inc. increased its stake in Stoke Therapeutics by 87.4% in the 2nd quarter. Opaleye Management Inc. now owns 562,120 shares of the company's stock worth $6,380,000 after buying an additional 262,120 shares in the last quarter.

About Stoke Therapeutics

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.

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