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Investing.com - H.C. Wainwright reiterated its Buy rating and $35.00 price target on Stoke Therapeutics (NASDAQ:STOK), currently trading at $11.86, following new analysis from an open label extension study shared on July 10. According to InvestingPro data, the company maintains an "EXCELLENT" financial health score, with analysts’ targets ranging from $15 to $35.
The analysis showed marked improvements in five core Vineland subdomains at week 68 for 13 patients treated with regimens similar to those planned for the Phase 3 EMPEROR study (3x45 mg or 2x70 mg followed by 2x45 mg).
In contrast, matched cohorts from the natural history BUTTERFLY study (36 patients) demonstrated stagnation or no improvements in the same subdomains, which include expressive communication, receptive communication, interpersonal relationships, personal skills, and coping skills.
H.C. Wainwright noted that these improvements in the five domains reflect "clinically meaningful gains and not just statistical noise," supporting both the EMPEROR trial design and a potential label for treating DS if approved.
The firm highlighted that the data is encouraging for Phase 3 trial outcomes and from label, payor, and commercialization perspectives, given that no current standard-of-care treatments have demonstrated cognitive and intellectual improvements in DS patients.
In other recent news, H.C. Wainwright analyst Andrew Fein has adjusted the price target for Stoke Therapeutics to $35 from the previous $47, while maintaining a Buy rating on the stock. This revision comes after Stoke Therapeutics announced that the Phase 3 EMPEROR trial for zorevunersen is expected to begin around the second quarter of 2025. The trial will be essential in validating the Open Label Extension data for zorevunersen, a potential first-in-class therapy for Dravet syndrome. The OLE data suggests that zorevunersen significantly reduces seizure frequency and positively impacts patients’ behavior and cognition. The treatment involves a 70 mg loading dose followed by a 45 mg maintenance dose, which could lead to an 80-87% median reduction in seizure frequency over eight months. Additional assessments indicate improvements in behavior and cognition, which could be crucial if replicated in the Phase 3 trial. Fein’s revised valuation model reflects current market sentiment, the heightened cost of capital, and a reduced appetite for early-stage clinical risk, leading to the new price target.
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