Structure Therapeutics (NASDAQ: GPCR) received a significant boost in its price target from JPMorgan Chase & Co., which raised it from $65.00 to $105.00 in a report released on December 12, 2023. The financial institution currently maintains an “overweight” rating on the stock, reflecting a positive outlook for the biotechnology firm.
Several other brokerages have also recently updated their assessments of Structure Therapeutics. Guggenheim increased its target price from $90.00 to $140.00 and assigned a “buy” rating in a research note published on December 10, 2023. Similarly, Morgan Stanley raised its target from $120.00 to $125.00 while maintaining an “overweight” rating. The Goldman Sachs Group set a price objective of $102.00 on December 18, 2023. Meanwhile, Citigroup reiterated an “outperform” rating, and HC Wainwright increased its target from $60.00 to $90.00, affirming a “buy” recommendation.
The stock has garnered attention from analysts, with two equities research firms rating it as a Strong Buy, thirteen giving it a Buy rating, and two providing a Sell rating. According to data from MarketBeat.com, Structure Therapeutics currently holds an average rating of “Moderate Buy” and an average price target of $104.45.
Recent Performance and Earnings Report
In its latest earnings report, released on November 6, 2023, Structure Therapeutics reported a loss of $0.37 earnings per share for the quarter, which slightly missed the consensus estimate of $0.36. Analysts anticipate that the company will report an average loss of $0.82 earnings per share for the current fiscal year, reflecting ongoing challenges in its financial performance.
Despite the recent price target revisions, Structure Therapeutics experienced a 1.6% decline in stock value shortly after the earnings announcement, indicating market volatility and investor sentiment fluctuations.
Institutional Investments Surge
Institutional trading activity has been noteworthy, with several hedge funds and institutional investors adjusting their holdings in Structure Therapeutics. Signaturefd LLC significantly increased its stake by 6,550.0% during the second quarter of 2023, acquiring an additional 6,650 shares valued at approximately $138,000.
Other firms like Aberdeen Group plc raised their holdings by 61.4%, now owning 401,624 shares valued at $8.33 million. Griffin Asset Management Inc. and Allianz Asset Management GmbH also entered new positions in the company, contributing to a notable increase in institutional ownership, which now stands at 91.78%.
About Structure Therapeutics
Structure Therapeutics (NASDAQ: GPCR) is a clinical-stage biotechnology company focused on discovering and developing oral small-molecule therapies targeting G protein-coupled receptors (GPCRs). Utilizing advancements in structural biology, computational chemistry, and medicinal chemistry, the company aims to optimize binding interactions and pharmacokinetic properties, striving to deliver innovative treatments for metabolic and inflammatory disorders.
With a diverse pipeline comprising multiple programs at various stages of preclinical and clinical development, Structure Therapeutics is well-positioned within the biotech industry, capturing the interest of both analysts and investors alike.
