Stifel Nicolaus Initiates Coverage on Structure Therapeutics (NASDAQ:GPCR)

Stifel Nicolaus began coverage on shares of Structure Therapeutics (NASDAQ:GPCR) in a research report issued on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 83.96% from the company’s current price.

Several other research firms have also commented on GPCR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research note on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Structure Therapeutics in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Finally, JMP Securities reiterated a “market outperform” rating and issued a $91.00 price target on shares of Structure Therapeutics in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Structure Therapeutics currently has a consensus rating of “Buy” and an average target price of $81.29.

Structure Therapeutics Stock Performance

Shares of GPCR opened at $27.18 on Wednesday. Structure Therapeutics has a fifty-two week low of $25.90 and a fifty-two week high of $62.74. The company has a market capitalization of $1.56 billion, a PE ratio of -36.73 and a beta of -2.78. The stock has a fifty day moving average of $32.85 and a two-hundred day moving average of $36.77.

Institutional Investors Weigh In On Structure Therapeutics

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Structure Therapeutics by 4,155.6% in the 4th quarter. GAMMA Investing LLC now owns 1,149 shares of the company’s stock valued at $31,000 after acquiring an additional 1,122 shares during the period. JPMorgan Chase & Co. raised its position in Structure Therapeutics by 302.3% in the third quarter. JPMorgan Chase & Co. now owns 33,936 shares of the company’s stock valued at $1,489,000 after purchasing an additional 25,500 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Structure Therapeutics by 230.0% during the third quarter. Principal Financial Group Inc. now owns 545,359 shares of the company’s stock worth $23,936,000 after purchasing an additional 380,115 shares in the last quarter. Exome Asset Management LLC purchased a new stake in shares of Structure Therapeutics in the third quarter worth about $5,274,000. Finally, Franklin Resources Inc. grew its stake in shares of Structure Therapeutics by 9.4% in the third quarter. Franklin Resources Inc. now owns 706,106 shares of the company’s stock valued at $30,991,000 after buying an additional 60,397 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other 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.