Investment research firm Wall Street Zen has upgraded the rating of Structure Therapeutics (NASDAQ: GPCR) from “sell” to “hold.” This update was published in a report released on November 6, 2023, reflecting a shift in the firm’s outlook on the company’s stock performance.
Analyst Ratings Highlight Divergent Perspectives
In the midst of ongoing analysis, HC Wainwright recently reaffirmed a “buy” rating for Structure Therapeutics, setting a target price of $60.00. Meanwhile, Morgan Stanley raised its price target from $120.00 to $125.00, categorizing the stock as “overweight.” On the other hand, Stifel Nicolaus increased its price objective from $50.00 to $90.00, maintaining a “buy” rating. Contrastingly, Zacks Research downgraded the stock from “hold” to “strong sell” earlier in the month.
A total of fourteen analysts have analyzed Structure Therapeutics, with one rating it as a strong buy, eleven as buy, and two issuing a sell rating. According to data from MarketBeat, the overall average rating stands at “moderate buy,” with an average target price of $95.78.
Recent Earnings and Institutional Investments
Structure Therapeutics reported its quarterly earnings on November 6, disclosing earnings per share of ($0.37), which fell short of the consensus estimate of ($0.36) by $0.01. Analysts forecast that the company will post an earnings per share of ($0.82) for the current fiscal year.
Several institutional investors have made adjustments to their positions in Structure Therapeutics. The State of Wyoming acquired a new stake worth approximately $28,000 during 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.
Additionally, the National Bank of Canada FI raised its stake by 1,448.2%, now holding 2,957 shares worth $51,000. Other notable investors include Assetmark Inc., which boosted its stake by 39.9%, and PNC Financial Services Group Inc., which grew its position by 29.1%. Currently, institutional investors own approximately 91.78% of Structure Therapeutics’ stock.
Founded as a clinical-stage biopharmaceutical company, Structure Therapeutics focuses on developing novel oral therapeutics to address chronic diseases with unmet medical needs. Its leading product candidate, GSBR-1290, is an oral small molecule agonist targeting the glucagon-like peptide-1 receptor, which plays a significant role in treating type-2 diabetes mellitus and obesity.
This comprehensive analysis underlines the varied perspectives among analysts regarding Structure Therapeutics, reflecting the complexities inherent in evaluating emerging biopharmaceutical companies.
