JMP Securities Reaffirms “Market Outperform” Rating for Structure Therapeutics (NASDAQ:GPCR)

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

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

Structure Therapeutics Stock Up 7.4 %

Shares of Structure Therapeutics stock opened at $29.97 on Wednesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -40.50 and a beta of -3.41. The stock’s 50-day simple moving average is $35.53 and its 200-day simple moving average is $39.03. Structure Therapeutics has a 52 week low of $26.23 and a 52 week high of $62.74.

Institutional Investors Weigh In On Structure Therapeutics

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