Structure Therapeutics has received an upgrade from Wall Street Zen, moving from a “sell” to a “hold” rating, according to a report released on October 28, 2023. This adjustment reflects a shift in analysts’ sentiment towards the company’s stock, which trades on the NASDAQ under the ticker symbol GPCR.
Several other financial institutions have also evaluated the stock recently, contributing to a varied landscape of ratings. HC Wainwright reaffirmed a “buy” rating while setting a target price of $60.00 on November 28. Meanwhile, Morgan Stanley raised its price target from $120.00 to $125.00, designating the stock as “overweight” on the same day. In a contrasting move, Zacks Research downgraded the stock from a “hold” to a “strong sell” rating in a note issued on October 17.
Analysts have expressed mixed views overall. While one research analyst has assigned a “strong buy” rating, eleven others have given 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 a target price averaging $95.78.
Financial Performance and Market Reactions
On November 6, 2023, Structure Therapeutics announced its quarterly earnings, reporting a loss of $0.37 per share. This figure fell short of analysts’ expectations, which had estimated a loss of $0.36 by a mere $0.01. Analysts project that the company will post an average loss of $0.82 per share for the current fiscal year.
The stock’s performance has also drawn interest from institutional investors. A number of hedge funds have recently adjusted their positions in Structure Therapeutics. For instance, the State of Wyoming acquired a new stake valued at approximately $28,000 during the second quarter. Additionally, EverSource Wealth Advisors LLC significantly increased its stake by 530.0% in the third quarter, now holding 1,071 shares valued at $30,000 after purchasing 901 shares.
Other notable movements include National Bank of Canada FI, which raised its position by an impressive 1,448.2% in the first quarter, now owning 2,957 shares valued at $51,000. Similarly, Assetmark Inc. boosted its stake by 39.9% during the second quarter, while PNC Financial Services Group Inc. increased its position by 29.1%, now holding 4,415 shares valued at $92,000. Institutional investors currently own 91.78% of the stock.
About Structure Therapeutics
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company focused on developing innovative oral therapeutics aimed at treating a variety of 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 recognized drug target for managing type-2 diabetes and obesity.
The recent changes in ratings and institutional investments indicate a complex landscape for Structure Therapeutics, reflecting the broader dynamics of the biopharmaceutical sector. As the company continues to pursue its clinical objectives, its stock will likely remain under close scrutiny from investors and analysts alike.
