Leerink Partners analyst Faisal Khurshid reiterated a Buy rating on Shattuck Labs (STTK – Research Report) on May 2 and set a price target of $4.00.
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Faisal Khurshid has given his Buy rating due to a combination of factors surrounding Shattuck Labs’ strategic advancements and promising pipeline developments. The company is on track to initiate a Phase 1 trial of their DR3 antagonist, SL-325, in the third quarter of 2025, with initial data expected by the end of the year. This progress is seen as a significant step in their pivot towards addressing inflammatory bowel disease (IBD), which could validate their approach to targeting DR3 and enhance investor confidence in the company’s turnaround strategy.
Furthermore, Shattuck Labs plans to nominate a lead bispecific candidate from its preclinical pipeline in 2025, which targets DR3 alongside another biologically relevant target. The anticipated Phase 1 trial of SL-325 is expected to yield initial pharmacokinetic, pharmacodynamic, safety, and biomarker data, supporting the favorable dosing schedule suggested by non-human primate data. Positive interactions with the FDA regarding their IND filing, along with timely feedback, have been encouraging, reinforcing the company’s confidence in their development timeline and potential for swift progression to Phase 2 trials.
Khurshid covers the Healthcare sector, focusing on stocks such as Pliant Therapeutics, aTyr Pharma, and Kymera Therapeutics. According to TipRanks, Khurshid has an average return of 34.4% and a 54.29% success rate on recommended stocks.