Structure Therapeutics stock maintains JMP rating ahead of key data

Investing.com - JMP Securities maintained its Market Outperform rating and $89.00 price target on Structure Therapeutics (NASDAQ:GPCR) Monday. According to InvestingPro data, analysts’ price targets range from $37.50 to $120, with the stock currently trading near $21.73.

The research firm highlighted Structure’s upcoming Phase 2b data for aleniglipron, expected by year-end 2025, as a "significant value inflection point" for the company’s shares if the drug demonstrates a comparable or superior profile to orforglipron. The company maintains a strong financial position with a current ratio of 23.29 and minimal debt-to-equity of 0.01, according to InvestingPro analysis.

JMP also noted that orforglipron’s Phase 3 ATTAIN data in non-diabetic patients will be presented at the European Association for the Study of Diabetes (EASD) conference in early September, potentially providing a boost to Structure Therapeutics stock. With the company’s next earnings report due on August 7, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

Structure Therapeutics presented preclinical posters at the American Diabetes Association (ADA) conference, including data on its small-molecule dual amylin/calcitonin agonist ACCG-2671, which JMP indicated could potentially be more efficacious than Novo’s cagrilintide.

The company confirmed to JMP that the Phase 1 trial for ACCG-2671 remains on track to begin by the end of 2025, with JMP noting that the diabetes field appears eager to advance amylin candidates due to their "potent weight loss, improved tolerability, and lean mass preservation."

In other recent news, Structure Therapeutics has garnered attention following several key developments. Citi analysts initiated coverage with a Buy rating and a $60 price target, highlighting the potential of the company’s lead drug, aleniglipron, which is in Phase 2b trials for obesity. H.C. Wainwright also reaffirmed a Buy rating with an $80 price target, noting aleniglipron’s promising safety profile and potential for significant weight loss in upcoming trials. JMP analysts maintained a ’Market Outperform’ rating with an $87 price target, focusing on the anticipated impact of orforglipron data on the company’s market performance.

In a significant industry shift, Pfizer (NYSE:PFE)’s decision to discontinue its obesity drug candidate, danuglipron, due to liver toxicity, has been viewed as beneficial for Structure Therapeutics. This development potentially reduces competition for Structure’s oral small molecule platform targeting obesity. Analysts have noted that the discontinuation underscores the importance of safety in the obesity drug market, which could favor Structure Therapeutics as it advances its own candidates.

The company’s varied pipeline, including the first-in-class oral small-molecule amylin agonist ACCG-2671, also holds potential for future partnerships. Analysts suggest that the forthcoming Phase 2b data for aleniglipron could further influence partnership interest. These recent developments have positioned Structure Therapeutics as a noteworthy contender in the evolving landscape of obesity treatments.

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