Shattuck Labs initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Shattuck Labs (STTK) with an Overweight rating and $15 price target The company’s SL-325 offers a “differentiated approach” to treat inflammatory bowel disease patients where receptor blockade is expected to provide durable inflammation protection with a greater inhibitory effect, the analyst tells investors in a research note. Piper sees a high probability of success that SL-325 will show “clean” safety and tolerability. It recommends owning Shattuck ahead of the initial Phase 1 data in Q2.