JMP Securities initiated coverage of Structure Therapeutics with an Outperform rating and $90 price target. Structure is a clinical-stage biotech company focused on developing oral small molecule drugs to replace injectable biologics and peptides for chronic diseases, the analyst tells investors in a research note. The firm expects an effective, once-daily oral GLP-1R agonist “will be a compelling option for patients.” Structure’s lead asset GSBR-1290 is a fully-biased, small molecule, GLP-1R agonist, and biasing away from beta-arrestin signaling will confer efficacy and safety benefits, contends JMP.
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