Structure Therapeutics (NASDAQ:GPCR) Shares Up 14.6%

Structure Therapeutics Inc. (NASDAQ:GPCR)’s stock price shot up 14.6% during mid-day trading on Wednesday . The stock traded as high as $40.22 and last traded at $39.44. 684,767 shares were traded during trading, a decline of 13% from the average session volume of 785,754 shares. The stock had previously closed at $34.42.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GPCR shares. JMP Securities lowered their target price on Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a research note on Monday. BMO Capital Markets raised their price objective on shares of Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Structure Therapeutics in a research report on Tuesday, May 21st. They issued an “overweight” rating and a $65.00 target price for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $84.63.

Structure Therapeutics Trading Up 1.4 %

The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -52.32 and a beta of -3.52. The firm has a 50-day moving average of $38.06 and a two-hundred day moving average of $39.73.

Structure Therapeutics (NASDAQ:GPCR) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. As a group, equities analysts anticipate that Structure Therapeutics Inc. will post -0.86 EPS for the current year.

Institutional Investors Weigh In On Structure Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund acquired a new stake in Structure Therapeutics during the fourth quarter valued at approximately $277,000. Russell Investments Group Ltd. acquired a new position in Structure Therapeutics during the fourth quarter worth $1,157,000. Natixis Advisors L.P. bought a new position in shares of Structure Therapeutics during the fourth quarter valued at $634,000. EFG Asset Management North America Corp. bought a new stake in shares of Structure Therapeutics in the 4th quarter worth about $705,000. Finally, Franklin Resources Inc. increased its position in shares of Structure Therapeutics by 116.2% during the 4th quarter. Franklin Resources Inc. now owns 542,323 shares of the company’s stock worth $22,105,000 after purchasing an additional 291,503 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

About Structure Therapeutics

Structure Therapeutics Inc, a clinical stage global biopharmaceutical company, develops and delivers novel oral therapeutics to treat a range of chronic diseases with unmet medical needs. The company's lead product candidate is GSBR-1290, an oral and biased small molecule agonist of glucagon-like-peptide-1 receptor, a validated G-protein-coupled receptors (GPCRs) drug target for type-2 diabetes mellitus and obesity.