Needham & Company LLC Reiterates Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They presently have a $22.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 62.84% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Stoke Therapeutics in a research note on Tuesday, May 7th. Canaccord Genuity Group decreased their price objective on shares of Stoke Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Wedbush boosted their price objective on shares of Stoke Therapeutics from $13.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Stoke Therapeutics in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.57.

Stoke Therapeutics Stock Up 1.5 %

NASDAQ:STOK opened at $13.51 on Friday. Stoke Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $17.58. The stock has a market cap of $704.14 million, a PE ratio of -5.61 and a beta of 0.88. The firm’s fifty day simple moving average is $13.82 and its 200-day simple moving average is $9.42.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Monday, May 6th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.03. The company had revenue of $4.22 million for the quarter, compared to analyst estimates of $3.33 million. Equities analysts anticipate that Stoke Therapeutics will post -2.3 earnings per share for the current year.

Insider Buying and Selling at Stoke Therapeutics

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 3,600,000 shares of Stoke Therapeutics stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $11.60, for a total transaction of $41,760,000.00. Following the transaction, the insider now directly owns 10,843,681 shares of the company’s stock, valued at $125,786,699.60. The sale was disclosed in a filing with the SEC, which is available at this link. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Stoke Therapeutics

A number of hedge funds have recently made changes to their positions in STOK. Redmile Group LLC raised its stake in shares of Stoke Therapeutics by 93.2% during the first quarter. Redmile Group LLC now owns 5,073,049 shares of the company’s stock valued at $68,486,000 after purchasing an additional 2,447,543 shares during the period. Baker BROS. Advisors LP raised its stake in shares of Stoke Therapeutics by 65.9% during the first quarter. Baker BROS. Advisors LP now owns 3,368,443 shares of the company’s stock valued at $45,474,000 after purchasing an additional 1,338,309 shares during the period. Lynx1 Capital Management LP raised its stake in shares of Stoke Therapeutics by 25.0% during the first quarter. Lynx1 Capital Management LP now owns 3,696,820 shares of the company’s stock valued at $49,907,000 after purchasing an additional 739,902 shares during the period. Artal Group S.A. purchased a new stake in shares of Stoke Therapeutics during the first quarter valued at approximately $4,050,000. Finally, GSA Capital Partners LLP raised its stake in shares of Stoke Therapeutics by 514.7% during the third quarter. GSA Capital Partners LLP now owns 348,069 shares of the company’s stock valued at $1,371,000 after purchasing an additional 291,443 shares during the period.

Stoke Therapeutics Company Profile

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.