Structure Therapeutics’ GBSR-1290 data ‘firmly positive’, says BMO Capital

BMO Capital keeps an Outperform rating and $40 price target on Structure Therapeutics (GPCR) while noting that the company’s top-line Phase 1b data for GBSR-1290 in healthy overweight/obese subjects was “firmly positive”. The lack of adverse effect-related discontinuations is promising and likely ahead of investor expectations, while the readout has accomplished the proof and concept and the competitiveness vs. Eli Lilly’s (LLY) orforglipro, the analyst tells investors in a research note. The firm also notes that Pfizer’s (PFE) danuglipron is now “further behind”.