Wedbush Increases Stoke Therapeutics (NASDAQ:STOK) Price Target to $22.00

Key Points

• Wedbush has raised its price target for Stoke Therapeutics (NASDAQ:STOK) from $16.00 to $22.00, indicating a potential upside of 37.84% from the company's previous close.
• In addition to Wedbush, several investment firms have issued positive ratings on Stoke, with Jefferies setting a price target of $30.00 and a buy rating.
• Stoke Therapeutics reported earnings of ($0.40) per share for the latest quarter, surpassing analyst expectations, but posted significantly lower revenue than anticipated.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) had its price target lifted by analysts at Wedbush from $16.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target would indicate a potential upside of 37.84% from the company's previous close.

STOK has been the topic of a number of other reports. Cantor Fitzgerald upgraded Stoke Therapeutics to a "strong-buy" rating in a research note on Wednesday, May 14th. Jefferies Financial Group assumed coverage on Stoke Therapeutics in a research report on Friday, July 18th. They set a "buy" rating and a $30.00 price objective on the stock. HC Wainwright reduced their price objective on Stoke Therapeutics from $47.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Stoke Therapeutics in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $25.17.

Stoke Therapeutics Price Performance

NASDAQ STOK traded up $2.43 during trading on Wednesday, reaching $15.96. The company's stock had a trading volume of 610,612 shares, compared to its average volume of 770,055. The stock has a market capitalization of $871.37 million, a PE ratio of 19.77 and a beta of 1.15. The firm has a fifty day moving average of $12.16 and a 200 day moving average of $10.01. Stoke Therapeutics has a one year low of $5.35 and a one year high of $16.15.

Stoke Therapeutics (NASDAQ:STOK - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.17. The business had revenue of $13.82 million for the quarter, compared to analyst estimates of $31.51 million. Stoke Therapeutics had a return on equity of 19.08% and a net margin of 26.33%. Research analysts expect that Stoke Therapeutics will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Stoke Therapeutics

In other news, insider Barry Ticho sold 4,504 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $12.82, for a total value of $57,741.28. Following the sale, the insider directly owned 16,775 shares in the company, valued at approximately $215,055.50. This represents a 21.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 12,720 shares of company stock valued at $140,095 in the last quarter. Corporate insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STOK. JPMorgan Chase & Co. boosted its position in Stoke Therapeutics by 29.2% during the 4th quarter. JPMorgan Chase & Co. now owns 19,964 shares of the company's stock valued at $220,000 after acquiring an additional 4,512 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Stoke Therapeutics by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 877,095 shares of the company's stock worth $9,677,000 after purchasing an additional 6,264 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Stoke Therapeutics by 51.2% in the 4th quarter. Wells Fargo & Company MN now owns 16,786 shares of the company's stock worth $185,000 after purchasing an additional 5,682 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Stoke Therapeutics in the 4th quarter worth $133,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Stoke Therapeutics in the 4th quarter worth $1,423,000.

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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