Stoke Therapeutics (NASDAQ:STOK) Given “Buy” Rating at Needham & Company LLC

Stoke Therapeutics (NASDAQ:STOK)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $22.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 65.79% from the company’s current price.

A number of other equities research analysts also recently issued reports on STOK. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Stoke Therapeutics in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $17.00 price target on shares of Stoke Therapeutics in a research note on Thursday, July 11th. Leerink Partnrs upgraded shares of Stoke Therapeutics to a “strong-buy” rating in a report on Friday, October 11th. Finally, Leerink Partners initiated coverage on shares of Stoke Therapeutics in a report on Monday, October 14th. They issued an “outperform” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.83.

Stoke Therapeutics Stock Performance

Stoke Therapeutics stock opened at $13.27 on Wednesday. The company’s 50 day simple moving average is $13.24 and its 200-day simple moving average is $13.70. The company has a market capitalization of $698.64 million, a price-to-earnings ratio of -6.09 and a beta of 0.95. Stoke Therapeutics has a 1 year low of $3.77 and a 1 year high of $17.58.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.05. The business had revenue of $4.89 million for the quarter, compared to the consensus estimate of $3.46 million. Stoke Therapeutics had a negative net margin of 683.35% and a negative return on equity of 57.89%. Equities analysts expect that Stoke Therapeutics will post -2.1 earnings per share for the current year.

Insider Activity at Stoke Therapeutics

In other Stoke Therapeutics news, major shareholder Skorpios Trust sold 1,937,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $14.05, for a total transaction of $27,221,875.00. Following the completion of the transaction, the insider now owns 8,906,181 shares in the company, valued at $125,131,843.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in STOK. Quest Partners LLC acquired a new position in Stoke Therapeutics during the 2nd quarter worth approximately $29,000. Nisa Investment Advisors LLC grew its holdings in Stoke Therapeutics by 53.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after acquiring an additional 1,038 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Stoke Therapeutics during the 2nd quarter worth approximately $123,000. State Board of Administration of Florida Retirement System acquired a new position in Stoke Therapeutics during the 1st quarter worth approximately $141,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Stoke Therapeutics by 16.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock worth $189,000 after acquiring an additional 1,994 shares in the last quarter.

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.