HC Wainwright Reaffirms “Buy” Rating for Structure Therapeutics (NASDAQ:GPCR)

Structure Therapeutics (NASDAQ:GPCR)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $80.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 186.74% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Morgan Stanley initiated coverage on Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $91.00 price objective on shares of Structure Therapeutics in a report on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $86.50.

Structure Therapeutics Stock Performance

Shares of Structure Therapeutics stock opened at $27.90 on Thursday. The company has a 50-day simple moving average of $35.32 and a two-hundred day simple moving average of $38.86. Structure Therapeutics has a 52-week low of $26.23 and a 52-week high of $62.74. The stock has a market capitalization of $1.60 billion, a PE ratio of -37.70 and a beta of -3.41.

Institutional Investors Weigh In On Structure Therapeutics

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