Needham & Company LLC Forecasts Strong Price Appreciation for Stoke Therapeutics (NASDAQ:STOK) Stock

Stoke Therapeutics (NASDAQ:STOK) had its target price increased by analysts at Needham & Company LLC from $22.00 to $35.00 in a research note issued on Friday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 15.93% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group began coverage on shares of Stoke Therapeutics in a research note on Friday, July 18th. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Stoke Therapeutics in a research note on Wednesday. BTIG Research set a $28.00 price objective on shares of Stoke Therapeutics and gave the company a “buy” rating in a report on Monday, August 18th. Wedbush lifted their price objective on shares of Stoke Therapeutics from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Finally, Chardan Capital reissued a “buy” rating and set a $24.00 price objective on shares of Stoke Therapeutics in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Stoke Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $27.43.

Stoke Therapeutics Stock Performance

Stoke Therapeutics stock opened at $30.19 on Friday. The company has a 50 day moving average price of $20.97 and a 200-day moving average price of $13.87. Stoke Therapeutics has a fifty-two week low of $5.35 and a fifty-two week high of $32.40. The company has a market capitalization of $1.65 billion, a PE ratio of 35.52 and a beta of 1.24.

Stoke Therapeutics (NASDAQ:STOK) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.17. Stoke Therapeutics had a net margin of 26.25% and a return on equity of 18.32%. The firm had revenue of $13.82 million during the quarter, compared to the consensus estimate of $31.51 million. On average, analysts forecast that Stoke Therapeutics will post -2.01 earnings per share for the current year.

Insiders Place Their Bets

In other Stoke Therapeutics news, General Counsel Jonathan Allan sold 14,922 shares of Stoke Therapeutics stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $20.14, for a total value of $300,529.08. Following the transaction, the general counsel directly owned 18,176 shares of the company’s stock, valued at approximately $366,064.64. The trade was a 45.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry Ticho sold 5,501 shares of Stoke Therapeutics stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $19.87, for a total transaction of $109,304.87. Following the completion of the transaction, the insider directly owned 18,469 shares in the company, valued at $366,979.03. This represents a 22.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,180 shares of company stock valued at $4,129,406. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stoke Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of STOK. Corient Private Wealth LLC purchased a new position in Stoke Therapeutics in the second quarter worth $7,489,000. Checkpoint Capital L.P. grew its holdings in Stoke Therapeutics by 139.3% in the first quarter. Checkpoint Capital L.P. now owns 730,717 shares of the company’s stock worth $4,859,000 after purchasing an additional 425,330 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Stoke Therapeutics in the first quarter worth $2,670,000. Assenagon Asset Management S.A. grew its holdings in Stoke Therapeutics by 67.3% in the third quarter. Assenagon Asset Management S.A. now owns 900,272 shares of the company’s stock worth $21,156,000 after purchasing an additional 362,299 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Stoke Therapeutics in the first quarter worth $2,376,000.

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.