Structure Therapeutics (NASDAQ:GPCR) received a significant shift in its stock rating from Wall Street Zen, which upgraded the company from a “sell” to a “hold” rating in a report released on November 6, 2023. This change indicates a more cautious approach to the company’s future performance, reflecting the mixed sentiments among analysts.
Analyst Ratings and Price Targets
The landscape of analyst ratings surrounding Structure Therapeutics has been quite varied. Following Wall Street Zen’s upgrade, HC Wainwright maintained a “buy” rating, establishing a target price of $60.00 for the shares. In contrast, Morgan Stanley raised its price target from $120.00 to $125.00, assigning an “overweight” rating in its recent evaluation.
On December 8, 2023, Stifel Nicolaus also increased its price objective on Structure Therapeutics, adjusting it from $50.00 to $90.00 while reaffirming a “buy” rating. Conversely, Zacks Research downgraded the company from a “hold” to a “strong sell” rating earlier in October 2023.
Overall, the ratings from analysts show a divided sentiment. Currently, one analyst has issued a “strong buy” rating, eleven analysts recommend a “buy,” and two have given a “sell” rating. According to MarketBeat, the average rating for Structure Therapeutics stands at “Moderate Buy,” with an average target price of $95.78.
Recent Earnings and Institutional Investments
In its latest quarterly earnings report on November 6, 2023, Structure Therapeutics announced earnings per share of ($0.37), missing the consensus estimate of ($0.36) by ($0.01). Analysts project that the company will report earnings per share of ($0.82) for the current fiscal year, indicating ongoing challenges.
Institutional investors have shown interest in Structure Therapeutics, as several hedge funds have adjusted their holdings recently. The State of Wyoming entered a new position in the company during the second quarter, investing approximately $28,000. EverSource Wealth Advisors LLC significantly increased its stake by 530.0% in the third quarter, owning 1,071 shares valued at about $30,000 after acquiring an additional 901 shares.
National Bank of Canada FI also expanded its position by a remarkable 1,448.2% in the first quarter, now holding 2,957 shares valued at $51,000. Additionally, Assetmark Inc. boosted its stake by 39.9% during the second quarter, now owning 2,877 shares worth $60,000. PNC Financial Services Group Inc. also increased its position by 29.1%, holding 4,415 shares valued at $92,000.
Currently, approximately 91.78% of Structure Therapeutics’ stock is owned by hedge funds and other institutional investors, indicating significant institutional confidence in the company’s potential.
About Structure Therapeutics
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company focused on developing innovative oral therapeutics aimed at addressing chronic diseases with unmet medical needs. Its lead product candidate, GSBR-1290, is an oral small molecule agonist targeting the glucagon-like-peptide-1 receptor, a validated target for treating type-2 diabetes mellitus and obesity.
As analysts continue to evaluate the prospects of Structure Therapeutics, the company’s performance will be closely watched by investors and stakeholders alike. The mixed ratings and institutional interest suggest a complex outlook as it navigates challenges within the biopharmaceutical landscape.