Gold rally may be losing steam but no major correction seen: DB
Investing.com - Needham raised its price target on Stoke Therapeutics (NASDAQ:STOK) to $35.00 from $22.00 on Friday, while maintaining a Buy rating on the stock. The company has shown remarkable momentum, with shares surging over 350% in the past six months. According to InvestingPro data, analysts maintain a Strong Buy consensus on STOK, with targets ranging from $15 to $35.
The price target increase follows new open-label extension (OLE) data for zorevunersen in Dravet Syndrome (DS) presented at the 54th Child Neurology Society annual meeting on Thursday.
The data demonstrated continued improvements in clinical outcomes through three years for patients treated with zorevunersen, Stoke’s lead drug candidate for Dravet Syndrome.
An analysis of patients in the open-label extension who received a similar dosing regimen to the ongoing Phase 3 trial showed improvements in the Vineland-3 assessment, which measures cognition and behavior, at two years compared to a Dravet Syndrome natural history study.
Needham noted that the new data, combined with positive three-year OLE results shared in early August, increased its confidence in zorevunersen’s long-term efficacy and durability, as well as its potential for significant differentiation over standard-of-care anti-seizure medications for Dravet Syndrome treatment.
In other recent news, Stoke Therapeutics has announced the appointment of Ian F. Smith as its permanent Chief Executive Officer. Smith, who has been serving as the interim CEO since March 2025, will continue to be a member of the Board of Directors. The company also shared promising clinical data for its treatment, zorevunersen, which demonstrated significant seizure reduction and cognitive improvements in patients with Dravet syndrome over a three-year period. This data will be presented at the 36th International Epilepsy Congress. BTIG has adjusted its price target for Stoke Therapeutics to $28, down from $29, while maintaining a Buy rating, based on the 36-month data for zorevunersen. The data highlighted continued seizure reductions, particularly in patients who began with optimal loading doses. Arthur Tzianabos will resume his role as Chairman of the Board, following his temporary position as Executive Chairman during the CEO search. These developments reflect Stoke Therapeutics’ ongoing efforts in leadership and therapeutic advancements.
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