Equities researchers at Wall Street Zen have upgraded their rating for Structure Therapeutics (NASDAQ: GPCR) from “sell” to “hold,” according to a report released on November 6, 2023. This change comes as part of a series of recent evaluations from various analysts regarding the company’s stock.
In addition to Wall Street Zen’s adjustment, other firms have also expressed their views on Structure Therapeutics. Notably, HC Wainwright reaffirmed a “buy” rating, setting a target price of $60.00. On the same day, Morgan Stanley raised its price target from $120.00 to $125.00, maintaining an “overweight” rating for the stock. Stifel Nicolaus similarly increased its price objective from $50.00 to $90.00, giving the company a “buy” rating. In contrast, Zacks Research downgraded the stock from a “hold” to a “strong sell” rating earlier in October. Lifesci Capital also upgraded its stance, designating the shares as a “strong buy” in September.
As it stands, one analyst has rated Structure Therapeutics with a “strong buy,” while eleven others issued a “buy” rating. Two analysts have assigned a “sell” rating. MarketBeat reports that the average rating for the stock currently sits at “Moderate Buy,” with an average target price of $95.78.
Structure Therapeutics’ Financial Performance
On November 6, Structure Therapeutics announced its quarterly earnings, reporting a loss of ($0.37) per share. This figure fell short of the consensus estimate of ($0.36) by ($0.01). Analysts predict that the company will post an earnings per share figure of ($0.82) for the current fiscal year.
Investor interest in Structure Therapeutics has been notable, with several institutional investors adjusting their stakes in the company. For instance, the State of Wyoming acquired a new stake valued at approximately $28,000 in the second quarter. EverSource Wealth Advisors LLC significantly increased its holdings by 530.0% in the third quarter, now owning 1,071 shares valued at $30,000 after acquiring an additional 901 shares.
National Bank of Canada FI also made a substantial increase, raising its position by 1,448.2% in the first quarter, bringing its total to 2,957 shares worth $51,000. Similarly, Assetmark Inc. boosted its stake by 39.9% in the second quarter and now owns 2,877 shares valued at $60,000. PNC Financial Services Group Inc. expanded its position by 29.1%, holding 4,415 shares valued at $92,000.
Currently, institutional investors collectively own 91.78% of Structure Therapeutics’ stock, indicating strong institutional support.
Understanding Structure Therapeutics
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company dedicated to developing innovative oral therapeutics aimed at addressing chronic diseases with significant unmet medical needs. The company’s lead product candidate, GSBR-1290, is an oral small molecule agonist targeting the glucagon-like peptide-1 receptor, which is a validated target for treating type-2 diabetes mellitus and obesity.
As the market continues to evolve, the performance and strategic decisions surrounding Structure Therapeutics will be closely monitored by analysts and investors alike.
