Leerink Partnrs Upgrades Stoke Therapeutics (NASDAQ:STOK) to Strong-Buy

Stoke Therapeutics (NASDAQ:STOK) was upgraded by Leerink Partnrs to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Stoke Therapeutics in a research report on Wednesday, September 11th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Stoke Therapeutics in a report on Thursday, August 8th. Leerink Partners assumed coverage on Stoke Therapeutics in a research report on Monday. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and set a $17.00 target price on shares of Stoke Therapeutics in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $20.83.

Stoke Therapeutics Price Performance

Shares of STOK opened at $12.76 on Friday. The company has a market capitalization of $665.06 million, a P/E ratio of -5.29 and a beta of 0.97. Stoke Therapeutics has a one year low of $3.35 and a one year high of $17.58. The business’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $13.71.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.11. Stoke Therapeutics had a negative return on equity of 57.89% and a negative net margin of 683.35%. The company had revenue of $4.83 million for the quarter, compared to analyst estimates of $3.33 million. On average, sell-side analysts anticipate that Stoke Therapeutics will post -2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Skorpios Trust sold 1,937,500 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $14.05, for a total value of $27,221,875.00. Following the transaction, the insider now owns 8,906,181 shares of the company’s stock, valued at $125,131,843.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Stoke Therapeutics

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new position in Stoke Therapeutics during the 2nd quarter worth approximately $29,000. Nisa Investment Advisors LLC raised its holdings in Stoke Therapeutics by 53.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,989 shares of the company’s stock worth $40,000 after purchasing an additional 1,038 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Stoke Therapeutics during the second quarter worth $123,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Stoke Therapeutics in the 1st quarter valued at $141,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Stoke Therapeutics by 16.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,964 shares of the company’s stock valued at $189,000 after buying an additional 1,994 shares during the period.

About Stoke Therapeutics

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.