Structure Therapeutics (NASDAQ:GPCR) Price Target Lowered to $60.00 at HC Wainwright

Key Points

• HC Wainwright has lowered the price target for Structure Therapeutics from $75.00 to $60.00, but maintains a "buy" rating on the stock, suggesting a possible upside of 271.38%.
• Despite the downgrade by HC Wainwright, eight research analysts continue to rate the stock as a "buy," with an average target price of $75.71.
• Structure Therapeutics reported a quarterly loss of ($0.36) earnings per share, which was worse than analysts' expectations of ($0.28).

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) had its target price reduced by research analysts at HC Wainwright from $75.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 271.38% from the stock's previous close.

A number of other equities analysts have also recently commented on GPCR. JMP Securities decreased their price target on Structure Therapeutics from $89.00 to $87.00 and set a "market outperform" rating on the stock in a research note on Thursday. Guggenheim lowered their price target on shares of Structure Therapeutics from $92.00 to $90.00 and set a "buy" rating for the company in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Structure Therapeutics in a report on Monday, June 23rd. Finally, Citigroup started coverage on shares of Structure Therapeutics in a research note on Friday, May 2nd. They set a "buy" rating and a $60.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Structure Therapeutics presently has an average rating of "Buy" and an average target price of $75.71.

Structure Therapeutics Price Performance

NASDAQ:GPCR traded down $0.15 during trading hours on Thursday, hitting $16.16. The stock had a trading volume of 1,628,967 shares, compared to its average volume of 864,967. Structure Therapeutics has a one year low of $13.22 and a one year high of $45.37. The company has a 50 day simple moving average of $20.13 and a two-hundred day simple moving average of $22.05. The firm has a market capitalization of $926.39 million, a price-to-earnings ratio of -18.57 and a beta of -1.89.

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

Hedge Funds Weigh In On Structure Therapeutics

Several large investors have recently made changes to their positions in GPCR. Mariner LLC bought a new position in Structure Therapeutics during the 4th quarter valued at approximately $665,000. Invesco Ltd. increased its stake in Structure Therapeutics by 4.1% during the 4th quarter. Invesco Ltd. now owns 371,767 shares of the company's stock valued at $10,082,000 after purchasing an additional 14,559 shares in the last quarter. Barclays PLC lifted its stake in shares of Structure Therapeutics by 42.6% in the fourth quarter. Barclays PLC now owns 115,671 shares of the company's stock worth $3,138,000 after buying an additional 34,533 shares in the last quarter. GAMMA Investing LLC lifted its position in Structure Therapeutics by 663.8% in the 1st quarter. GAMMA Investing LLC now owns 8,776 shares of the company's stock valued at $152,000 after acquiring an additional 7,627 shares in the last quarter. Finally, Foresite Capital Management VI LLC bought a new stake in shares of Structure Therapeutics in the 4th quarter worth $11,390,000. 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.

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