Stoke Therapeutics Inc. surges following 'impressive' study data

investing.com:

Shares of Stoke Therapeutics Inc . (NASDAQ:STOK) surged more than 80% Tuesday after the company reported impressive data from the STK-001 Dravet Syndrome (DS) program yesterday.

The company explained that new data from two open-label Phase 1/2a studies and two open-label extension (OLE) studies of children and adolescents ages two to 18 with Dravet syndrome who were treated with STK-001 showed «clinically meaningful effects.»

These included «substantial and durable reductions in convulsive seizure frequency and improvements in multiple measures of cognition and behavior that support the potential for disease modification.»

Reacting to the news, analysts at TD Cowen upgraded STOK to Buy from Hold, saying the «update showed a significantly improved clinical profile from prior data cuts in July 2023 and AES (December 2023) that give us confidence STK-001 could be the first disease-modifying therapy for DS.»

Analysts at Needham & Company raised their price target for the stock to $22 from $14 per share, maintaining a Buy rating. They said they thought the data fit their best-case scenario and exceeded investor expectations.

«We think the new data put STOK in a strong position heading into regulatory discussions. We see additional upside to shares when the Ph3 design is finalized and timelines are set,» said the firm.