TD Cowen analyst Marc Frahm has maintained their bullish stance on STTK stock, giving a Buy rating today.
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Marc Frahm has given his Buy rating due to a combination of factors including Shattuck Labs’ promising financial position and the potential of their SL-325 development. The company reported a Q2 net loss, but with the proceeds from a recent private placement, they have a pro-forma cash balance that is expected to sustain operations until 2029. This financial stability provides a solid foundation for their ongoing research and development efforts.
Furthermore, the SL-325 compound has shown a favorable safety profile and effective receptor engagement in preclinical studies. The data suggests that SL-325 could offer a superior approach to treating inflammatory bowel disease (IBD) compared to existing therapies. The potential for less immunogenicity and more consistent pathway suppression could lead to improved clinical outcomes, making it a competitive candidate in the IBD treatment landscape. These factors combined contribute to Frahm’s positive outlook and Buy rating for Shattuck Labs.
According to TipRanks, Frahm is a 4-star analyst with an average return of 4.0% and a 41.36% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Agios Pharma, and Revolution Medicines.
In another report released today, Leerink Partners also maintained a Buy rating on the stock with a $2.00 price target.