Brokerages Set Structure Therapeutics Inc. (NASDAQ:GPCR) Price Target at $86.80

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) have been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is $86.80.

Several equities research analysts have commented on the company. JMP Securities dropped their price target on Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Morgan Stanley initiated coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday, September 23rd.

Structure Therapeutics Stock Up 11.0 %

GPCR stock opened at $33.41 on Wednesday. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -45.15 and a beta of -3.23. The business has a fifty day simple moving average of $38.79 and a 200-day simple moving average of $39.55. Structure Therapeutics has a 52 week low of $26.61 and a 52 week high of $66.38.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GPCR. Geode Capital Management LLC increased its holdings in shares of Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock valued at $1,985,000 after acquiring an additional 312 shares during the last quarter. Barclays PLC lifted its position in shares of Structure Therapeutics by 64.5% in the 3rd quarter. Barclays PLC now owns 81,138 shares of the company’s stock worth $3,562,000 after buying an additional 31,815 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Structure Therapeutics by 35.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,429 shares of the company’s stock valued at $1,292,000 after buying an additional 7,719 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Structure Therapeutics in the third quarter worth about $1,787,000. Finally, Pier Capital LLC boosted its position in Structure Therapeutics by 32.7% during the 3rd quarter. Pier Capital LLC now owns 134,291 shares of the company’s stock valued at $5,894,000 after purchasing an additional 33,087 shares during the period. 91.78% of the stock is currently owned by institutional investors.

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.