Structure Therapeutics (NASDAQ:GPCR) Price Target Lowered to $87.00 at JMP Securities

Key Points

• JMP Securities has lowered its price target for Structure Therapeutics (NASDAQ: GPCR) from $89.00 to $87.00, indicating a potential upside of 407.64% based on its previous close.
• In addition to JMP Securities, HC Wainwright and Cantor Fitzgerald have also adjusted their target prices for Structure Therapeutics, with estimates now ranging from $60.00 to $75.00.
• Structure Therapeutics reported a loss of $(0.36) EPS in its latest quarterly earnings, falling short of analysts' expectations of $(0.28) EPS.

Structure Therapeutics (NASDAQ:GPCR - Free Report) had its target price reduced by JMP Securities from $89.00 to $87.00 in a research note released on Thursday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other research analysts also recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, June 23rd. HC Wainwright dropped their price target on shares of Structure Therapeutics from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Finally, Citigroup assumed coverage on shares of Structure Therapeutics in a research report on Friday, May 2nd. They issued a "buy" rating and a $60.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Structure Therapeutics currently has an average rating of "Buy" and an average price target of $75.71.

Structure Therapeutics Stock Performance

Shares of GPCR stock traded up $0.11 during trading hours on Thursday, reaching $16.42. The company had a trading volume of 430,415 shares, compared to its average volume of 871,367. The business has a fifty day moving average price of $19.78 and a 200-day moving average price of $21.76. Structure Therapeutics has a one year low of $13.22 and a one year high of $45.37. The firm has a market cap of $941.69 million, a PE 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). Equities research analysts forecast that Structure Therapeutics will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Structure Therapeutics

Several hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Structure Therapeutics in the fourth quarter valued at $34,000. National Bank of Canada FI raised its stake in shares of Structure Therapeutics by 1,448.2% in the first quarter. National Bank of Canada FI now owns 2,957 shares of the company's stock valued at $51,000 after acquiring an additional 2,766 shares during the period. Assetmark Inc. raised its stake in shares of Structure Therapeutics by 39.9% in the second quarter. Assetmark Inc. now owns 2,877 shares of the company's stock valued at $60,000 after acquiring an additional 820 shares during the period. Virtus ETF Advisers LLC raised its stake in shares of Structure Therapeutics by 25.5% in the fourth quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company's stock valued at $61,000 after acquiring an additional 455 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its stake in shares of Structure Therapeutics by 310.7% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,247 shares of the company's stock valued at $74,000 after acquiring an additional 3,213 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

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.