Leerink Partners maintains Market Perform, PT raised to $26 from $24.

Leerink Partners maintains Market Perform, PT raised to $26 from $24.

Leerink Partners has revised its price target for Shattuck Labs (NASDAQ: STTK) to $26 from $24 while maintaining a Market Perform rating [1]. The adjustment comes following Shattuck Labs' second-quarter 2025 earnings report and pipeline update, which included plans to initiate a Phase 1 trial for SL-325, a DR3 antagonist, in the current quarter.

Leerink Partners views the upcoming trial initiation as a pivotal moment for Shattuck Labs, as the company transitions to clinical-stage status. The trial aims to generate new interest in Shattuck Labs' first-in-class DR3 approach for inflammatory bowel disease (IBD). Additionally, the company recently secured financing that extends its cash runway into 2029, providing long-term operational stability as it advances its pipeline.

Leerink Partners notes that initial pharmacokinetic/pharmacodynamic data, safety results, and biomarker information from the Phase 1 study will offer insights into the feasibility of Shattuck Labs' targeting approach. This data may potentially deliver greater efficacy than TL1A inhibition alone.

In other recent news, Shattuck Labs announced a private placement financing expected to generate gross proceeds of approximately $103 million. This financing round was led by OrbiMed and included participation from both new and existing investors. The funds are earmarked to support the development of SL-325, a DR3 blocking antibody intended for the treatment of Crohn’s disease, ulcerative colitis, and other autoimmune and inflammatory diseases. Additionally, Shattuck Labs held its 2025 Annual Meeting of Stockholders, where all director nominees were elected, and the proposal to ratify the independent auditor was approved.

These developments indicate ongoing strategic and governance activities within the company, providing investors with a sense of the company's long-term prospects.

References:
[1] https://www.investing.com/news/analyst-ratings/shattuck-labs-stock-price-target-lowered-to-2-by-leerink-partners-93CH-4193546