Jefferies raised the firm’s price target on Structure Therapeutics to $79 from $50 and keeps a Buy rating on the shares after the company announced results from the Phase 1b multiple ascending dose, MAD, study of its highly selective oral GLP-1 receptor agonist, GSBR-1290, in healthy overweight or obese individuals. Today’s data were “de-risking with impressive weight loss and generally tolerated profile,” says the analyst, who has confidence about GSBR-1290’s profile based on the data to-date and the development plan.
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