HC Wainwright Initiates Coverage on Structure Therapeutics (NASDAQ:GPCR)

Equities research analysts at HC Wainwright began coverage on shares of Structure Therapeutics (NASDAQ:GPCR) in a report released on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $80.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 156.08% from the stock’s previous close.

Several other research firms have also commented on GPCR. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, September 23rd. JMP Securities lowered their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley started coverage on Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics has an average rating of “Buy” and an average price target of $85.67.

Structure Therapeutics Stock Performance

NASDAQ GPCR opened at $31.24 on Wednesday. The stock has a market cap of $1.79 billion, a P/E ratio of -42.22 and a beta of -3.41. Structure Therapeutics has a fifty-two week low of $26.61 and a fifty-two week high of $63.30. The stock has a 50 day simple moving average of $37.46 and a two-hundred day simple moving average of $39.32.

Institutional Trading of Structure Therapeutics

Hedge funds have recently bought and sold shares of the stock. Sandia Investment Management LP purchased a new stake in Structure Therapeutics in the 2nd quarter worth approximately $39,000. Assetmark Inc. increased its stake in shares of Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after purchasing an additional 719 shares in the last quarter. Quarry LP bought a new stake in shares of Structure Therapeutics during the 2nd quarter valued at $79,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after buying an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC bought a new position in Structure Therapeutics in the 3rd quarter worth $202,000. 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.