Leerink raised the firm’s price target on Structure Therapeutics (GPCR) to $97 from $46 and keeps an Outperform rating on the shares. The firm believes the GSBR-1290 data suggest a drug profile that could be competitive with Eli Lilly’s (LLY) orforglipron, and sees Structure shares as significantly undervalued given extraordinary oral GLP-1 TAM potential. Leerink sees the peak global potential sales for oral incretins to be $50B-$75B, assuming 10M-15M+ people are treated at an annual net price of $5,000 per patient.
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Read More on GPCR:
- Structure Therapeutics price target raised to $79 from $50 at Jefferies
- Structure Therapeutics’ GBSR-1290 data ‘firmly positive’, says BMO Capital
- Structure Therapeutics announces $300M private placement
- Structure Therapeutics Announces Positive Results from Phase 1b Clinical Study of Oral GLP-1 Receptor Agonist GSBR-1290 and Provides Program Update
- Structure Therapeutics Announces $300 Million Private Placement Equity Financing