Structure Therapeutics (NASDAQ:GPCR) Trading Up 10.5% – What’s Next?

Structure Therapeutics Inc. (NASDAQ:GPCR) shares were up 10.5% on Thursday . The company traded as high as $41.86 and last traded at $41.82. Approximately 735,788 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 775,766 shares. The stock had previously closed at $37.86.

Analysts Set New Price Targets

GPCR has been the subject of a number of research reports. JMP Securities dropped 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 research report on Friday, August 9th. Morgan Stanley initiated coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an “overweight” rating and a $118.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $86.80.

Structure Therapeutics Stock Up 8.3 %

The company has a market cap of $2.35 billion, a PE ratio of -55.57 and a beta of -3.53. The stock’s 50 day moving average is $39.50 and its 200-day moving average is $39.73.

Structure Therapeutics (NASDAQ:GPCR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. On average, analysts anticipate that Structure Therapeutics Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Structure Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in GPCR. Sandia Investment Management LP purchased a new stake in shares of Structure Therapeutics in the second quarter valued at $39,000. Quarry LP purchased a new stake in shares of Structure Therapeutics in the second quarter valued at $79,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Structure Therapeutics by 60.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after acquiring an additional 1,420 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in shares of Structure Therapeutics in the third quarter valued at $206,000. Finally, Sei Investments Co. purchased a new stake in shares of Structure Therapeutics in the second quarter valued at $212,000. 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.