Structure Therapeutics (NASDAQ:GPCR) Given Buy Rating at HC Wainwright

Structure Therapeutics (NASDAQ:GPCR - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $80.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 166.93% from the stock's current price.

Several other equities research analysts have also issued reports on GPCR. Morgan Stanley initiated coverage on Structure Therapeutics in a research report on Monday, September 23rd. They set an "overweight" rating and a $118.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $91.00 price objective on shares of Structure Therapeutics in a report on Wednesday. Finally, 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. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $86.50.

Structure Therapeutics Trading Up 7.4 %

Shares of GPCR traded up $2.07 on Thursday, reaching $29.97. 1,744,421 shares of the company's stock traded hands, compared to its average volume of 798,834. The stock's 50 day simple moving average is $35.71 and its two-hundred day simple moving average is $39.09. The stock has a market cap of $1.72 billion, a PE ratio of -40.50 and a beta of -3.41. Structure Therapeutics has a 52-week low of $26.23 and a 52-week high of $62.74.

Institutional Trading of Structure Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Structure Therapeutics by 230.0% during the 3rd quarter. Principal Financial Group Inc. now owns 545,359 shares of the company's stock worth $23,936,000 after acquiring an additional 380,115 shares during the period. Exome Asset Management LLC bought a new position in shares of Structure Therapeutics in the third quarter worth $5,274,000. Franklin Resources Inc. raised 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 worth $30,991,000 after buying an additional 60,397 shares in the last quarter. Geode Capital Management LLC boosted its stake in Structure Therapeutics by 0.7% during the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company's stock valued at $1,985,000 after buying an additional 312 shares during the period. Finally, Barclays PLC grew 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 buying an additional 31,815 shares in the last quarter. 91.78% of the stock is currently owned by 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.