Stoke Therapeutics' (STOK) "Buy" Rating Reiterated at BTIG Research

Key Points

• BTIG Research reiterated its “buy” rating on Stoke Therapeutics and kept a $39 price target, implying about 18.6% upside from the stock’s current level.
• The company’s latest quarterly results were slightly better than expected, with EPS of -$0.79 versus a -$0.80 estimate, though revenue of $6.23 million came in below consensus.
• Analyst sentiment remains broadly positive overall, with a Moderate Buy consensus and an average price target of $41.83, even as some insiders have recently sold shares.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BTIG Research in a note issued to investors on Monday,Benzinga reports. They currently have a $39.00 price objective on the stock. BTIG Research's target price indicates a potential upside of 18.58% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Stoke Therapeutics in a report on Friday, April 10th. Chardan Capital reiterated a "buy" rating and set a $35.00 price target on shares of Stoke Therapeutics in a report on Wednesday, March 18th. Wedbush upped their price target on Stoke Therapeutics from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Wolfe Research started coverage on Stoke Therapeutics in a research report on Monday, February 23rd. They issued an "outperform" rating and a $40.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on Stoke Therapeutics from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.83.

Stoke Therapeutics Stock Performance

Shares of Stoke Therapeutics stock opened at $32.89 on Monday. The stock has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $32.03. Stoke Therapeutics has a 12-month low of $8.70 and a 12-month high of $40.22. The company has a market capitalization of $2.05 billion, a P/E ratio of -11.70 and a beta of 1.20.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.01. Stoke Therapeutics had a negative return on equity of 51.16% and a negative net margin of 529.20%.The business had revenue of $6.23 million during the quarter, compared to the consensus estimate of $6.48 million. On average, analysts predict that Stoke Therapeutics will post -3.41 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Jonathan Allan sold 4,628 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $31.34, for a total transaction of $145,041.52. Following the transaction, the general counsel owned 28,836 shares of the company's stock, valued at $903,720.24. This represents a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arthur Tzianabos sold 4,355 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $40.00, for a total value of $174,200.00. Following the transaction, the insider directly owned 31,339 shares in the company, valued at $1,253,560. This represents a 12.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 69,699 shares of company stock valued at $2,526,714. 9.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. RTW Investments LP lifted its position in shares of Stoke Therapeutics by 8.3% during the 4th quarter. RTW Investments LP now owns 5,546,856 shares of the company's stock valued at $176,057,000 after buying an additional 423,331 shares during the last quarter. Morgan Stanley lifted its position in shares of Stoke Therapeutics by 0.3% during the 4th quarter. Morgan Stanley now owns 3,546,158 shares of the company's stock valued at $112,555,000 after buying an additional 9,108 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Stoke Therapeutics by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,163,874 shares of the company's stock valued at $74,351,000 after buying an additional 217,616 shares during the last quarter. State Street Corp lifted its position in shares of Stoke Therapeutics by 75.2% during the 4th quarter. State Street Corp now owns 2,498,049 shares of the company's stock valued at $79,288,000 after buying an additional 1,072,176 shares during the last quarter. Finally, BVF Inc. IL lifted its position in shares of Stoke Therapeutics by 36.7% during the 4th quarter. BVF Inc. IL now owns 2,265,674 shares of the company's stock valued at $71,912,000 after buying an additional 608,578 shares during the last quarter.

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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