H.C. Wainwright Reiterates Buy Rating on Stoke Therapeutics (STOK)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $35.00 price target on Stoke Therapeutics (NASDAQ: STOK).

The analyst commented: "Stoke shared a new analysis on July 10 from the open label extension study which formed the underlying basis for the Phase 3 design of the EMPEROR study. The major takeaway from the data is that, when patients treated with the same regimen that might be used in the Phase 3 study (3x45 mg or 2x70 mg followed by 2x45 mg), at week 68 for n=13 patients, Stoke saw a marked improvement in the five core vineland subdomains compared to the baseline. Importantly, in the matched cohorts from natural history BUTTERFLY study (n=36) there was stagnation or no improvements in vineland subdomains. Note that the improvements were seen in those core five subdomains which were unanimously selected by the caregivers and FDA-led patient-centered feedback—expressive communication, receptive communication, interpersonal relationships, personal skills, and coping skills, which are critical for QoL of DS patients. Based on the data shared we think the consistent improvement seen in these five domains reflects clinically meaningful gains and not just statistical noise, and therefore, not only supports the EMPEROR design with respect to dosing and the endpoints but also supports a potential label for the treatment of DS, if approved. The data showing improvement in the key vineland subdomains (which is the key secondary endpoint for the EMPEROR) when compared to the matched natural history cohort when exposed to a similar Phase 3 dose, is not only encouraging for the Phase 3 trial outcome but also from the label, payor, and commercialization perspective, if approved, given that none of the current SOCs have been able to demonstrate cognitive and intellectual improvements in DS. Reiterate Buy rating and $35 PT."

For an analyst ratings summary and ratings history on Stoke Therapeutics click here. For more ratings news on Stoke Therapeutics click here.

Shares of Stoke Therapeutics closed at $11.86 yesterday.

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