Equities researchers at Wall Street Zen have upgraded Structure Therapeutics (NASDAQ: GPCR) from a “sell” rating to a “hold” rating. This change was reported on Saturday, marking a notable shift in sentiment towards the company.
Several analysts have provided updated assessments of Structure Therapeutics in recent weeks. On November 28, 2023, HC Wainwright reaffirmed a “buy” rating, setting a target price of $60.00 for the shares. Similarly, Morgan Stanley raised its price target for Structure Therapeutics from $120.00 to $125.00, assigning the stock an “overweight” rating in a report released on the same day.
On December 8, 2023, Stifel Nicolaus increased its price objective for Structure Therapeutics from $50.00 to $90.00, issuing a “buy” rating. In contrast, Zacks Research downgraded the company from a “hold” rating to a “strong sell” on October 17, 2023. Notably, Lifesci Capital upgraded its rating to “strong buy” on September 8, 2023.
Analyst Ratings and Market Sentiment
Currently, one research analyst has given Structure Therapeutics a “Strong Buy” rating, while eleven have rated the stock as a “Buy,” and two have issued a “Sell” rating. According to data from MarketBeat, the company holds an average rating of “Moderate Buy” with an average target price of $95.78.
Structure Therapeutics announced its quarterly earnings results on November 6, 2023, revealing an earnings per share (EPS) of ($0.37). This figure fell short of the consensus estimate of ($0.36) by ($0.01). Analysts predict that the company will report an EPS of ($0.82) for the current fiscal year, indicating ongoing challenges in achieving profitability.
Institutional Investment Activity
Recent activity among institutional investors suggests growing interest 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, now owning 1,071 shares valued at $30,000 after purchasing an additional 901 shares.
Additionally, the National Bank of Canada FI raised its position in Structure Therapeutics by an astonishing 1,448.2%, now holding 2,957 shares valued at $51,000 after acquiring 2,766 more shares. Assetmark Inc. also boosted its stake by 39.9%, reaching a total of 2,877 shares worth $60,000.
As of now, hedge funds and institutional investors control approximately 91.78% of Structure Therapeutics stock, reflecting strong institutional confidence in the company.
Structure Therapeutics is a clinical-stage global biopharmaceutical company specializing in the development of 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, a validated drug target for type 2 diabetes and obesity.
As analysts continue to monitor developments within Structure Therapeutics, stakeholders remain attentive to both its market performance and the broader implications for the biopharmaceutical sector.
