Structure Therapeutics (NASDAQ:GPCR) Reaches New 52-Week High - Still a Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $28.16 and last traded at $27.00, with a volume of 1498070 shares changing hands. The stock had previously closed at $25.91.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Structure Therapeutics in a report on Tuesday, April 22nd. William Blair initiated coverage on shares of Structure Therapeutics in a research note on Friday, February 28th. They set an "outperform" rating for the company. Stifel Nicolaus began coverage on shares of Structure Therapeutics in a research report on Wednesday, January 8th. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Citigroup assumed coverage on shares of Structure Therapeutics in a research report on Friday. They issued a "buy" rating and a $60.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $78.63.

Structure Therapeutics Price Performance

The stock has a market capitalization of $1.55 billion, a P/E ratio of -36.61 and a beta of -1.35. The company's 50-day simple moving average is $20.52 and its 200-day simple moving average is $27.46.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. On average, analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GPCR. State Street Corp lifted its stake in shares of Structure Therapeutics by 27.0% during the 3rd quarter. State Street Corp now owns 12,295 shares of the company's stock worth $540,000 after buying an additional 2,611 shares during the last quarter. Barclays PLC lifted its position in Structure Therapeutics by 64.5% during the third quarter. Barclays PLC now owns 81,138 shares of the company's stock worth $3,562,000 after acquiring an additional 31,815 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Structure Therapeutics by 0.7% during the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company's stock worth $1,985,000 after acquiring an additional 312 shares during the period. Franklin Resources Inc. grew its position 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 purchasing an additional 60,397 shares during the last quarter. Finally, Principal Financial Group Inc. increased 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 during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

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.