Wall Street Zen has upgraded its rating for Structure Therapeutics (NASDAQ: GPCR) from “sell” to “hold” in a report released on November 4, 2023. This shift reflects a more cautious approach towards the company’s stock, which has seen varied ratings from other analysts in recent weeks.
Analyst Ratings and Price Targets
Other financial analysts have also recently provided insights on Structure Therapeutics. On November 28, HC Wainwright reiterated a “buy” rating, establishing a target price of $60.00 for the shares. Following suit, on the same day, Morgan Stanley increased its price target for the company from $120.00 to $125.00, assigning an “overweight” rating. Stifel Nicolaus took a more optimistic stance, raising its price objective from $50.00 to $90.00 with a “buy” rating, while Zacks Research took a contrary view by downgrading the stock from “hold” to “strong sell” on October 17.
In total, one analyst has assigned a “strong buy” rating, eleven have recommended buying, while two have issued sell ratings. According to data from MarketBeat, Structure Therapeutics currently holds an average rating of “moderate buy” with an average target price of $95.78.
Recent Earnings and Market Expectations
Structure Therapeutics last announced its quarterly earnings on November 6, revealing a loss of ($0.37) per share. This figure was slightly below the consensus estimate of ($0.36), marking a minor miss of $0.01. Analysts project that the company will report an earnings per share of ($0.82) for the current fiscal year.
In light of these earnings, institutional investors are taking varied positions in Structure Therapeutics. During the second quarter, State of Wyoming acquired a new stake valued at approximately $28,000. Additionally, EverSource Wealth Advisors LLC increased its holdings by an impressive 530.0% in the third quarter, now owning 1,071 shares valued at $30,000.
Other notable movements include National Bank of Canada FI, which raised its position by 1,448.2% in the first quarter, holding 2,957 shares worth $51,000 after acquiring an additional 2,766 shares. Assetmark Inc. and PNC Financial Services Group Inc. also increased their stakes significantly during the second quarter, contributing to an institutional ownership of approximately 91.78% of the company’s stock.
Structure Therapeutics, a clinical-stage global biopharmaceutical company, focuses on developing novel oral therapeutics aimed at addressing chronic diseases with unmet medical needs. Its lead product candidate, GSBR-1290, is an oral small molecule agonist of the glucagon-like peptide-1 receptor, targeting conditions such as type 2 diabetes and obesity.
