Equities researchers at Wall Street Zen have upgraded Structure Therapeutics (NASDAQ: GPCR) from a “sell” rating to a “hold” rating, as detailed in a report released on October 28, 2023. This move reflects a shift in sentiment towards the company, which has experienced a mix of ratings from various analysts in recent weeks.
Analyst Ratings and Price Targets
In addition to Wall Street Zen’s adjustment, other firms have also revised their assessments of Structure Therapeutics. HC Wainwright reiterated a “buy” rating and established a target price of $60.00 for the company’s shares. This announcement was made just a day prior, on November 27, 2023.
Morgan Stanley has increased its price target for Structure Therapeutics from $120.00 to $125.00, assigning an “overweight” rating in a recent research report. Meanwhile, Stifel Nicolaus also raised its price objective significantly, from $50.00 to $90.00, while maintaining a “buy” rating. These updates were issued on December 8, 2023.
Conversely, Zacks Research downgraded the company’s rating from “hold” to “strong sell” on October 17, 2023. In a more favorable turn, Lifesci Capital upgraded Structure Therapeutics to a “strong buy” in its report on September 8, 2023.
Overall, one analyst has designated the stock with a “strong buy” rating, eleven analysts have given it a “buy” rating, and two have issued a “sell” rating. According to data from MarketBeat, Structure Therapeutics currently holds an average rating of “moderate buy” with an average target price of $95.78.
Financial Performance and Institutional Investments
Structure Therapeutics recently announced its quarterly earnings on November 6, 2023. The company reported earnings per share of ($0.37), missing the consensus estimate of ($0.36) by a narrow margin of $0.01. Analysts anticipate that the company will report an earnings per share of ($0.82) for the current fiscal year.
In terms of institutional investments, several hedge funds have adjusted their holdings in Structure Therapeutics. The State of Wyoming acquired a new stake in the company during the second quarter, valued at approximately $28,000. Additionally, EverSource Wealth Advisors LLC increased its position by 530.0% in the third quarter, now owning 1,071 shares valued at around $30,000.
Furthermore, National Bank of Canada FI raised its stake by an impressive 1,448.2%, now holding 2,957 shares worth $51,000. Assetmark Inc. also boosted its stake by 39.9%, bringing its total to 2,877 shares valued at $60,000.
Overall, institutional investors own approximately 91.78% of Structure Therapeutics’ stock, highlighting significant confidence in the company’s future prospects.
Founded as a clinical-stage global biopharmaceutical company, Structure Therapeutics focuses on developing innovative oral therapeutics aimed at addressing 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, which is crucial for treating type-2 diabetes and obesity.
