Wall Street Zen Upgrades Structure Therapeutics to Hold Rating

On November 6, 2023, Wall Street Zen upgraded its rating for Structure Therapeutics (NASDAQ: GPCR) from “sell” to “hold.” This decision reflects a shift in sentiment among analysts regarding the company’s stock, which has been subject to various evaluations over recent months.

Several research firms have recently provided insights into Structure Therapeutics’ market position. HC Wainwright reiterated a “buy” rating, setting a target price of $60.00 for the stock. Meanwhile, Morgan Stanley increased its price target from $120.00 to $125.00, maintaining an “overweight” rating. In another report, Stifel Nicolaus raised their price objective on Structure Therapeutics from $50.00 to $90.00 while also rating it as a “buy.”

Analyst Ratings Overview

In contrast, Zacks Research downgraded Structure Therapeutics from a “hold” to a “strong sell” rating on October 17, 2023. Additionally, Lifesci Capital upgraded the stock to a “strong buy” in a report published on September 8, 2023. Currently, one analyst has rated the stock as a strong buy, eleven have issued buy ratings, and two have provided sell ratings. According to data from MarketBeat, Structure Therapeutics holds an average rating of “Moderate Buy” with an average target price of $95.78.

In the latest quarterly earnings announcement made on the same date as the upgrade, Structure Therapeutics reported an earnings per share (EPS) of ($0.37), falling short of analysts’ expectations of ($0.36) by $0.01. Analysts project that the company will post an EPS of ($0.82) for the current fiscal year.

Institutional Investments in Structure Therapeutics

Institutional investors have also been active in adjusting their positions regarding Structure Therapeutics. The State of Wyoming recently acquired a new stake in the company valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings by 530.0% in the third quarter, now owning 1,071 shares valued at $30,000 after purchasing an additional 901 shares.

Moreover, National Bank of Canada FI raised its investment in Structure Therapeutics by an impressive 1,448.2%, owning 2,957 shares worth $51,000 after acquiring an additional 2,766 shares. Assetmark Inc. and PNC Financial Services Group Inc. also boosted their stakes in the company, reflecting growing institutional confidence.

Currently, approximately 91.78% of Structure Therapeutics’ stock is owned by hedge funds and other institutional investors. This significant level of institutional ownership may influence future stock performance as analysts continue to monitor the company’s developments.

Structure Therapeutics is a clinical-stage global biopharmaceutical company focused on developing innovative oral therapeutics aimed at addressing chronic diseases with unmet medical needs. Its lead candidate, GSBR-1290, is an oral small molecule agonist targeting the glucagon-like peptide-1 receptor, relevant for treating type-2 diabetes and obesity.

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