In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Shattuck Labs (STTK – Research Report), with a price target of $28.00.
Joseph Pantginis has given his Buy rating for Shattuck Labs (STTK) due to a combination of factors. One of the primary reasons behind this rating is the positive interim data from Shattuck’s ongoing Phase 1b trial of SL-172154 in combination with pegylated liposomal doxorubicin (PLD) in patients with platinum-resistant ovarian cancer (PROC). The early data suggests encouraging anti-tumor activity and a favorable safety profile, which outperforms other CD47 inhibitors currently in development, that have struggled with issues such as destructive anemia.
Furthermore, Pantginis factored in the financial health of Shattuck Labs. The company ended the previous quarter with $101.1 million, which is expected to sustain the company through multiple inflection points until 2024. There are also several key milestones up ahead for the SL-172154 program, such as initial data from the ongoing Phase 1b study of SL-172154 in combination with mirvetuximab soravtansine in PROC and the completion of enrollment in the expansion cohort in 4Q23, with data from the full cohort expected by mid-2024. These factors collectively contribute to Pantginis’s Buy rating for Shattuck Labs.
Pantginis covers the Healthcare sector, focusing on stocks such as PDS Biotechnology, Clene, and Ligand Pharma. According to TipRanks, Pantginis has an average return of -15.3% and a 23.80% success rate on recommended stocks.
In another report released on November 2, Needham also maintained a Buy rating on the stock with a $12.00 price target.
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Shattuck Labs (STTK) Company Description:
Shattuck Labs Inc is a clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. The company’s product candidate, SL-172154, has been rationally designed to simultaneously inhibit the CD47/SIRPa checkpoint interaction to restore an anti-tumor immune response and to activate the CD40 costimulatory receptor to bolster an immune response. Its product candidate, SL-279252, which is being developed in collaboration with Takeda Pharmaceuticals, or Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor.
Read More on STTK:
- Shattuck Labs Reports Third Quarter 2023 Financial Results and Recent Business Highlights
- Shattuck Labs to Report Third-Quarter 2023 Financial Results on November 9, 2023
- Shattuck Labs to present data from Phase 1 A/B trial of SL-172154
- Shattuck Labs to Present Topline Data from Phase 1 A/B Clinical Trial of SL-172154 in Relapsed/Refractory (R/R) Acute Myeloid Leukemia (AML) and Higher-Risk Myelodysplastic Syndromes (HR-MDS) Patients at the American Society of Hematology (ASH) 2023 Annual Meeting
