Structure Therapeutics (NASDAQ:GPCR) Given New $90.00 Price Target at Guggenheim

Key Points

• Guggenheim has lowered its target price for Structure Therapeutics (NASDAQ:GPCR) from $92.00 to $90.00, maintaining a "buy" rating while indicating a potential upside of 454.12% from the last close.
• Structure Therapeutics' stock has seen a decline, trading down 0.4% to $16.24, with a twelve-month low of $13.22 and a high of $45.37.
• Despite the recent forecast adjustments, Structure Therapeutics maintains a consensus "buy" rating from analysts, reflecting continued bullish sentiment on its potential.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) had its target price dropped by research analysts at Guggenheim from $92.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Guggenheim's price target points to a potential upside of 445.79% from the company's previous close.

Several other research firms also recently commented on GPCR. JMP Securities lowered their price objective on shares of Structure Therapeutics from $89.00 to $87.00 and set a "market outperform" rating for the company in a research note on Thursday. HC Wainwright reduced their target price on shares of Structure Therapeutics from $80.00 to $75.00 and set a "buy" rating for the company in a report on Monday, May 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $65.00 target price on shares of Structure Therapeutics in a report on Monday, June 23rd. Finally, Citigroup started coverage on shares of Structure Therapeutics in a report on Friday, May 2nd. They set a "buy" rating and a $60.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Structure Therapeutics has an average rating of "Buy" and an average price target of $75.71.

Structure Therapeutics Stock Performance

Shares of GPCR traded up $0.18 during midday trading on Thursday, hitting $16.49. 430,415 shares of the company traded hands, compared to its average volume of 871,367. The firm has a 50 day moving average of $19.78 and a 200-day moving average of $21.76. Structure Therapeutics has a 52 week low of $13.22 and a 52 week high of $45.37. The stock has a market cap of $945.59 million, a price-to-earnings ratio of -15.65 and a beta of -1.89.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08). Sell-side analysts predict that Structure Therapeutics will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Structure Therapeutics

Institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in Structure Therapeutics in the fourth quarter valued at approximately $34,000. Virtus ETF Advisers LLC lifted its position in shares of Structure Therapeutics by 25.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company's stock worth $61,000 after purchasing an additional 455 shares in the last quarter. Assetmark Inc. lifted its position in shares of Structure Therapeutics by 39.9% during the second quarter. Assetmark Inc. now owns 2,877 shares of the company's stock worth $60,000 after purchasing an additional 820 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Structure Therapeutics by 1,448.2% during the first quarter. National Bank of Canada FI now owns 2,957 shares of the company's stock worth $51,000 after purchasing an additional 2,766 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Structure Therapeutics by 673.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,076 shares of the company's stock worth $111,000 after purchasing an additional 3,549 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Structure Therapeutics Company Profile

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.