Stoke Therapeutics (STOK) PT Raised to $65 at Needham & Company

Needham & Company analyst Joseph Stringer raised the price target on Stoke Therapeutics (NASDAQ: STOK) to $65.00 (from $56.00) while maintaining a Buy rating.

The analyst commented, "STOK provided a corporate update this week and we spoke with mgmt yesterday for addn details. Initial results from the STK-001 Phase 1/2 MONARCH trial in Dravet Syndrome (DS) are expected in 2H21. We are biased towards a positive outcome based on KOL feedback and strength of preclinical data shown so far. We realize investor expectations are high given current levels (~$1.8B EV) but we continue to like the opportunity in DS and think the TANGO platform is capable of generating a high-value pipeline across multiple indications long-term. Reiterate BUY and raising PT to $65 (was $56)."

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