Stoke Therapeutics (STOK) PT Raised to $35 at Needham

Needham analyst Joseph Stringer raised the price target on Stoke Therapeutics (NASDAQ: STOK) to $35.00 (from $22.00) while maintaining a Buy rating.

The analyst commented: "STOK presented new zorevuneren OLE data in Dravet Syndrome (DS) at the 54th Child Neurology Society (CNS) annual meeting yesterday. The new data showed 1) patients treated with zorevunersen had continued improvements in clinical outcomes through 3 years, and 2) an analysis of patients in the OLE who received a similar dosing regimen as the ongoing Ph3 trial continued to show improvements in the Vineland-3 (cognition & behavior) at 2 years vs. a DS natural history study. This new data, along with the positive 3-year OLE data shared in early August (see our note here), has increased our confidence in the long-term efficacy & durability of zorevunersen and the potential for significant differentiation (disease modification) over SoC anti-seizure drugs for the treatment of DS. We are raising our PT to $35 (was $22)."

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