Morgan Stanley Initiates Coverage on Structure Therapeutics (NASDAQ:GPCR)

Investment analysts at Morgan Stanley began coverage on shares of Structure Therapeutics (NASDAQ:GPCR) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $118.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 168.06% from the company’s current price.

A number of other research firms also recently issued reports on GPCR. JMP Securities lowered their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a report on Monday, September 16th. Finally, BMO Capital Markets boosted their target price on shares of Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics has a consensus rating of “Buy” and an average price target of $88.33.

Structure Therapeutics Price Performance

NASDAQ:GPCR opened at $44.02 on Monday. The firm has a 50 day simple moving average of $37.91 and a 200-day simple moving average of $39.71. The firm has a market cap of $2.05 billion, a PE ratio of -57.17 and a beta of -3.52. Structure Therapeutics has a 1-year low of $26.61 and a 1-year high of $75.02.

Structure Therapeutics (NASDAQ:GPCR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. As a group, sell-side analysts expect that Structure Therapeutics will post -0.86 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 business. Boxer Capital LLC purchased a new stake in Structure Therapeutics during the fourth quarter worth approximately $16,304,000. Avoro Capital Advisors LLC grew its stake in Structure Therapeutics by 133.3% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock worth $95,107,000 after buying an additional 1,333,333 shares during the period. Octagon Capital Advisors LP purchased a new position in shares of Structure Therapeutics in the fourth quarter valued at $16,875,000. Bellevue Group AG boosted its stake in shares of Structure Therapeutics by 2,858.7% in the first quarter. Bellevue Group AG now owns 363,926 shares of the company’s stock valued at $15,598,000 after purchasing an additional 351,626 shares during the period. Finally, Capital International Investors purchased a new position in shares of Structure Therapeutics in the fourth quarter valued at $34,647,000. 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.