According to Howerton, the positive update from Structure Therapeutics' Phase 1b MAD study of its oral GLP-1 receptor agonist, GSBR-1290, played a significant role in the price target hike. The study, conducted on healthy overweight or obese individuals, showed impressive weight loss and a generally tolerated profile.
"2023/09/29's data update was de-risking with impressive weight loss and a generally tolerated profile," explained Howerton. The analyst expressed optimism about GSBR-1290's profile based on the available data and Structure Therapeutics' development strategy.
Structure Therapeutics Inc. is a clinical-stage global biopharmaceutical company focused on developing and delivering novel oral therapeutics to treat chronic diseases with unmet medical needs. The company's lead product candidate, GSBR-1290, is an oral and biased small molecule agonist of the glucagon-like-peptide-1 receptor, targeting type-2 diabetes mellitus and obesity. Additionally, Structure Therapeutics is developing oral small molecule therapeutics for pulmonary and cardiovascular diseases, including ANPA-0073 and LTSE-2578.
The analyst rating on GPCR aligns with Howerton's positive outlook, as 100% of top-rated analysts currently rate the stock as a Strong Buy or Buy. Notably, no analysts consider it a Hold, and there is no recommendation to sell the stock.
Since GPCR's last quarterly report on 2023/06/30, the stock price has increased by 21.3%. This upward trend reflects the market's confidence in the company and its potential for growth.
Chris Howerton, an analyst at Jefferies, specializes in the Healthcare sector. They are ranked in the top 6% out of 4,343 Wall Street analysts by WallStreetZen, with an average return of 20.5% and a 43.3% win rate.
WallStreetZen tracks the performance of nearly 4,000 Wall Street analysts, whom we rank by average returns, frequency, and win-rate (backtested over multiple years).
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