In a report released yesterday, Kaveri Pohlman from BTIG maintained a Buy rating on Shattuck Labs (STTK – Research Report), with a price target of $12.00.
Kaveri Pohlman has given her Buy rating due to a combination of factors surrounding Shattuck Labs’ strategic maneuvers and promising clinical developments. A key highlight is the partnership with Ono Pharmaceutical, which not only validates Shattuck’s technology through a new testing platform but also holds the potential to lure additional partnerships, including those with major pharmaceutical companies. Pohlman emphasizes that the technology’s avidity-based binding is a distinguishing and advantageous feature, particularly for targets expressed at low levels or those that induce stronger responses through receptor clustering. This approach is likened to other successful treatments and pipelines, suggesting a promising outlook for Shattuck’s technology.
Additionally, the analyst notes Shattuck’s strong positioning for the continued development of its leading candidate, SL-172154, which has shown encouraging data in various cancer trials. Mid-year 2024 is expected to bring significant data presentations that could further underscore the candidate’s efficacy and safety. Moreover, Shattuck’s financial position, bolstered by a $50 million financing round and a cash position that should sustain operations into 2026, is seen as a solid foundation for ongoing and potential future clinical trials. These financial and strategic elements contribute to Pohlman’s positive valuation of Shattuck Labs, leading to the recommendation for a Buy rating.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $12.00 price target.
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Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STTK in relation to earlier this year.
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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:
- 3 Best Stocks to Buy Now, 2/14/2024, According to Top Analysts
- Shattuck Labs Forms Drug Development Alliance with Ono Pharmaceutical
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- Shattuck Labs Enters into Strategic Collaboration and License Agreement with Ono Pharmaceutical to Generate Bifunctional Fusion Proteins for the Treatment of Autoimmune and Inflammatory Diseases
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