Cantor Fitzgerald says Structure Therapeutics (GPCR) shares are down 28% since early June, when positive Phase 2A obesity data were released for GSBR-1290. The firm says several investor questions and concerns are similar to the debate on the stock heading into the obesity readout, including pharmacokinetics questions and their implications for efficacy and safety, whether GSBR-1290 has full coverage for once-daily dosing, and questions about nausea/vomiting. Cantor’s analysis suggests there is no flattening of weight loss at week-12 among new patients, which has been a key investor pushback. The firm maintains bullish views on Structure and has more conviction that GSBR-1290 is competitive with Eli Lilly’s (LLY) orforglipron on efficacy and safety post its analysis. It sees the recent stock weakness as “highly overdone” and recommends investors buy Structure Therapeutics. Cantor has an Overweight rating on the shares with a $65 price target.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GPCR:
- Structure Therapeutics Announces Closing of Upsized Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional American Depositary Shares
- Structure Therapeutics price target raised to $100 from $83 at BMO Capital
- Structure Therapeutics 9.07M share Secondary priced at $52.50
- Structure Therapeutics Announces Pricing of Upsized $476 Million Public Offering
- Structure Therapeutics Announces Proposed Public Offering of American Depositary Shares and Pre-Funded Warrants