In a report released today, Joseph Stringer from Needham maintained a Buy rating on Shattuck Labs, with a price target of $14.00.
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Joseph Stringer has given his Buy rating due to a combination of factors, starting with the firm’s recent fireside chat with Shattuck Labs’ CEO at the Needham Healthcare Conference, which reinforced confidence in the company’s strategy and leadership. He views DR3 as a novel and differentiated target within the well-validated TL1A/DR3 pathway, suggesting that the company is positioned on the forefront of emerging immunology science.
Stringer also highlights the potential for Shattuck’s DR3 antagonist candidate, SL-325, to offer advantages over existing anti-TL1A therapies, which could translate into meaningful clinical and commercial upside if early data are supportive. Anticipation around the upcoming Phase 1 results in healthy volunteers, along with Shattuck’s longer-term development plans in Crohn’s disease and ulcerative colitis, underpins his view that the stock offers attractive upside from current levels.
In another report released on April 13, Piper Sandler also maintained a Buy rating on the stock with a $15.00 price target.