Equities researchers at Wall Street Zen have upgraded Structure Therapeutics (NASDAQ: GPCR) from a “sell” rating to a “hold” rating in a report released on Saturday. This move reflects a shift in sentiment toward the company, which has attracted varied assessments from analysts in recent weeks.
On November 28, 2023, HC Wainwright reaffirmed a “buy” rating for Structure Therapeutics, assigning a target price of $60.00 per share. Similarly, Morgan Stanley adjusted its price target from $120.00 to $125.00, also giving the stock an “overweight” rating. Meanwhile, Stifel Nicolaus raised its price objective from $50.00 to $90.00, maintaining a “buy” rating in its report published on December 8, 2023.
In contrast, Zacks Research downgraded Structure Therapeutics from a “hold” rating to a “strong sell” rating on October 17, 2023. In a more positive note, Lifesci Capital upgraded the company to a “strong buy” rating on September 8, 2023. Currently, one analyst has rated the stock as a Strong Buy, while eleven have issued Buy ratings, and two have assigned Sell ratings. According to data from MarketBeat, Structure Therapeutics holds an average rating of “Moderate Buy” with an average target price of $95.78.
Recent Earnings and Institutional Activity
Structure Therapeutics recently announced its quarterly earnings on November 6, 2023. The company reported earnings per share of ($0.37), falling short of the consensus estimate of ($0.36) by ($0.01). Analysts anticipate that Structure Therapeutics will report earnings per share of (0.82) for the current fiscal year.
A number of institutional investors have shown interest in Structure Therapeutics, either increasing or decreasing their stakes recently. The State of Wyoming acquired a new stake in the company during the second quarter, valued at approximately $28,000. EverSource Wealth Advisors LLC significantly boosted its holdings by 530.0% in the third quarter, acquiring a total of 1,071 shares, which are now valued at approximately $30,000 after purchasing an additional 901 shares.
Meanwhile, the National Bank of Canada FI raised its position by 1,448.2% in the first quarter, now owning 2,957 shares valued at $51,000. Assetmark Inc. increased its stake by 39.9% during the second quarter and now owns 2,877 shares worth $60,000, following an additional purchase of 820 shares. PNC Financial Services Group Inc. also expanded its position by 29.1%, now holding 4,415 shares valued at $92,000. Overall, 91.78% of the stock is currently owned by institutional investors.
About Structure Therapeutics
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company focused on developing and delivering innovative oral therapeutics aimed at treating a variety of chronic diseases with unmet medical needs. Its lead product candidate, GSBR-1290, is an oral small molecule agonist targeting the glucagon-like peptide-1 receptor, a validated drug target for treating type-2 diabetes mellitus and obesity.
As the company navigates market challenges and opportunities, the diverse opinions from analysts and institutional investors suggest a complex trajectory for Structure Therapeutics in the coming months.
