Shattuck Labs initiated with an Outperform at Leerink

Leerink analyst Faisal A. Khurshid initiated coverage of Shattuck Labs (STTK) with an Outperform rating and $4 price target The firm views Shattuck Labs’ pivot into inflammatory bowel disease as an underappreciated opportunity, with lead program SL-325 representing a first-in-class approach with potential to improve upon related, clinically validated, TL1A targeting programs. The company expects key Phase 1 milestones for SL-325 over the next 1 year, and Leerink is optimistic that these can spur investor interest in the turnaround story.