By Sam Boughedda
Investing.com — Stoke Therapeutics Inc (NASDAQ:STOK) shares rose 13% after it was given a bullish rating from JPMorgan analyst Jessica Fye.
Stoke was upgraded to overweight from neutral, with a price target of $41.
The analyst told investors that she likes the company's proprietary platform, Targeted Augmentation of Nuclear Gene Output (TANGO), "as a driver of long-term value creation."
Fye also said she sees reason for efficacy with Stoke's lead therapeutic candidate, STK-001, a therapy for treating Dravet Syndrome, a rare form of epilepsy.
STK-001 is currently in a Phase 1/2 study with efficacy and safety data expected in the fourth quarter and the second half of 2022.
"We see near-term upside driven by ‘001 (and limited downside) and a solid technology platform that could continue to generate shareholder value through follow-on assets over the next 12 months," explained Fye.