Wedbush Forecasts Strong Price Appreciation for Shattuck Labs (NASDAQ:STTK) Stock

Key Points

• Wedbush raised its target on Shattuck Labs to $11 from $8 and maintains an "outperform" rating, implying roughly a 66.9% upside from the stock's previous close.
• Analyst consensus is bullish: seven Buy ratings, one Hold and one Sell, with an average target of $13 versus a recent close near $6.59 and a market cap of about $498 million.
• Company focus and recent results: Shattuck Labs is a clinical‑stage biotech developing a fentanyl vaccine for opioid use disorders; it reported FY‑quarter EPS of ($0.13), marginally beating estimates, while analysts expect about ($0.48) for the current fiscal year.

Shattuck Labs (NASDAQ:STTK - Get Free Report) had its target price increased by analysts at Wedbush from $8.00 to $11.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price objective indicates a potential upside of 66.94% from the stock's previous close.

STTK has been the topic of a number of other research reports. Cantor Fitzgerald began coverage on Shattuck Labs in a report on Monday, April 27th. They issued an "overweight" rating on the stock. Needham & Company LLC began coverage on Shattuck Labs in a report on Friday, March 6th. They issued a "buy" rating and a $25.00 target price on the stock. TD Cowen reiterated a "buy" rating on shares of Shattuck Labs in a report on Friday, March 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Shattuck Labs in a report on Thursday, January 22nd. Finally, Piper Sandler began coverage on Shattuck Labs in a report on Wednesday, January 28th. They issued an "overweight" rating and a $15.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Shattuck Labs has an average rating of "Moderate Buy" and an average target price of $13.00.

Shattuck Labs Price Performance

Shares of STTK opened at $6.59 on Friday. The company has a market capitalization of $498.00 million, a price-to-earnings ratio of -8.52 and a beta of 1.18. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The business's 50-day moving average is $6.34 and its 200-day moving average is $4.29.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. During the same period last year, the company posted ($0.27) earnings per share. Equities research analysts expect that Shattuck Labs will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC acquired a new position in Shattuck Labs during the third quarter valued at approximately $29,000. Virtu Financial LLC acquired a new position in Shattuck Labs during the third quarter valued at approximately $38,000. Squarepoint Ops LLC acquired a new position in Shattuck Labs during the third quarter valued at approximately $46,000. Mallini Complete Financial Planning LLC acquired a new position in Shattuck Labs during the fourth quarter valued at approximately $83,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Shattuck Labs in the fourth quarter valued at approximately $85,000. Institutional investors and hedge funds own 58.74% of the company's stock.

Shattuck Labs Company Profile

Shattuck Labs, Inc NASDAQ: STTK is a clinical‐stage biotechnology company headquartered in Cambridge, Massachusetts. The company is focused on developing immunotherapeutic vaccines to prevent and treat substance use disorders, with an initial emphasis on opioids. Shattuck Labs employs a proprietary hapten‐carrier conjugate technology designed to generate high‐affinity drug‐specific antibodies that sequester target molecules in the bloodstream and reduce their passage across the blood‐brain barrier.

The company's lead program targets fentanyl, a synthetic opioid responsible for a significant proportion of overdose fatalities.

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