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Investing.com - JMP Securities lowered its price target on Structure Therapeutics (NASDAQ:GPCR) to $87.00 from $89.00 on Thursday, while maintaining a Market Outperform rating on the stock. The target remains well above the current trading price of $16.31, with the stock down over 40% in the past six months. According to InvestingPro data, the stock’s RSI suggests oversold conditions.
The firm expects Structure Therapeutics shares to move higher from current levels when Eli Lilly (NYSE:LLY) unveils its Phase 3 non-diabetic data for orforglipron at the European Association for the Study of Diabetes (EASD) conference on September 17.
JMP Securities noted that early data for Structure’s aleniglipron appears comparable to orforglipron, with the company moving to higher doses that could potentially achieve a best-in-class profile.
Structure Therapeutics has launched three new clinical trials designed to differentiate aleniglipron from competitors and derisk Phase 3 testing, with dosing planned up to 240 mg in these studies.
The research firm identified Structure Therapeutics as one of its favorite stocks for the second half of the year, viewing it as the best derivative trade on orforglipron’s success, with potential for a superior profile from aleniglipron by year-end 2025.
In other recent news, Structure Therapeutics has been the focus of several analyst evaluations. Clear Street initiated coverage on the company with a Buy rating and a $61.00 price target, highlighting its potential in the oral drug market, particularly for diabesity treatment. Cantor Fitzgerald maintained its Overweight rating with a $65.00 price target, citing the relevance of recent trial data for Eli Lilly’s oral GLP-1 receptor agonist to Structure’s aleniglipron. H.C. Wainwright reiterated its Buy rating, keeping a price target of $75.00, following promising data presented at the American Diabetes Association Conference. JMP Securities maintained its Market Outperform rating with a price target of $89.00, noting the anticipated Phase 2b data for aleniglipron as a potential turning point for the company’s shares. These developments reflect ongoing interest and analysis from multiple research firms regarding Structure Therapeutics’ prospects in the pharmaceutical landscape.
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