Structure Therapeutics’ (GPCR) “Market Outperform” Rating Reaffirmed at JMP Securities

Structure Therapeutics (NASDAQ:GPCR)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $91.00 price objective on the stock. JMP Securities’ target price would indicate a potential upside of 203.64% from the company’s previous close.

A number of other research firms have also weighed in on GPCR. Morgan Stanley assumed coverage on Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a report on Monday, September 23rd. Finally, HC Wainwright began coverage on shares of Structure Therapeutics in a research report on Wednesday, December 4th. They set a “buy” rating and a $80.00 target price on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $86.50.

Structure Therapeutics Stock Performance

GPCR opened at $29.97 on Wednesday. The stock’s 50 day moving average price is $35.53 and its 200-day moving average price is $39.03. Structure Therapeutics has a one year low of $26.23 and a one year high of $62.74. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -40.50 and a beta of -3.41.

Hedge Funds Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GPCR. Point72 Asset Management L.P. lifted its holdings in Structure Therapeutics by 196.5% during the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock worth $54,348,000 after buying an additional 820,589 shares during the period. Janus Henderson Group PLC raised its position in shares of Structure Therapeutics by 18.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after acquiring an additional 602,609 shares in the last quarter. Vestal Point Capital LP lifted its stake in shares of Structure Therapeutics by 105.4% during the 3rd quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after purchasing an additional 590,000 shares during the last quarter. First Light Asset Management LLC boosted its position in Structure Therapeutics by 296.1% during the second quarter. First Light Asset Management LLC now owns 590,647 shares of the company’s stock valued at $23,195,000 after purchasing an additional 441,534 shares in the last quarter. Finally, FMR LLC grew its stake in Structure Therapeutics by 6.7% in the third quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after purchasing an additional 383,635 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

Structure Therapeutics Company Profile

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.