Equities researchers at Wall Street Zen have upgraded Structure Therapeutics (NASDAQ: GPCR) from a “sell” rating to a “hold” rating, according to a report released on Saturday. This change reflects a shift in sentiment as analysts closely monitor the company’s stock performance amidst various market evaluations.
Analysts Weigh In on Structure Therapeutics
Several other analysts have also recently issued reports regarding Structure Therapeutics. On November 28, 2023, HC Wainwright reaffirmed a “buy” rating and set a target price of $60.00 for the company’s shares. In a separate report released the same day, Morgan Stanley increased their price target from $120.00 to $125.00, maintaining an “overweight” rating on the stock.
On December 8, 2023, Stifel Nicolaus raised their price objective from $50.00 to $90.00 while also assigning a “buy” rating. Conversely, Zacks Research downgraded the stock from a “hold” rating to a “strong sell” on October 17, 2023. Notably, Lifesci Capital upgraded Structure Therapeutics to a “strong buy” rating on September 8, 2023.
Overall, one research analyst has rated the stock as a Strong Buy, eleven have given it a Buy rating, and two analysts have issued a Sell rating. According to data from MarketBeat, Structure Therapeutics currently holds an average rating of “Moderate Buy” with a target price averaging $95.78.
Recent Financial Performance
Structure Therapeutics announced its quarterly earnings results on November 6, 2023. The company reported a loss of ($0.37) earnings per share, which fell 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.
Institutional Investors Take Action
In recent weeks, several hedge funds and institutional investors have adjusted their stakes in Structure Therapeutics. 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 increased its holdings by 530.0% in the third quarter, owning 1,071 shares valued at $30,000 after purchasing an additional 901 shares.
National Bank of Canada FI expanded its position by an impressive 1,448.2% in the first quarter, owning 2,957 shares valued at $51,000 after acquiring 2,766 shares. Assetmark Inc. also boosted its stake by 39.9% in the second quarter, now holding 2,877 shares worth $60,000 after adding 820 shares.
Lastly, PNC Financial Services Group Inc. grew its position by 29.1%, now owning 4,415 shares valued at $92,000 after purchasing an extra 994 shares. Currently, hedge funds and institutional investors own approximately 91.78% of Structure Therapeutics’ stock.
About Structure Therapeutics
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company focused on developing and delivering novel oral therapeutics aimed at treating chronic diseases with unmet medical needs. The company’s lead product candidate, GSBR-1290, is an oral and biased small molecule agonist targeting the glucagon-like peptide-1 receptor, a validated drug target for both type-2 diabetes mellitus and obesity.
As analysts continue to evaluate Structure Therapeutics, its stock performance remains under scrutiny, reflecting broader trends in the biopharmaceutical sector.
