In a report released on March 3, David Risinger from Leerink Partners maintained a Buy rating on Structure Therapeutics, Inc. Sponsored ADR (GPCR – Research Report), with a price target of $60.00.
David Risinger has given his Buy rating due to a combination of factors, despite lowering the price target for Structure Therapeutics, Inc. Sponsored ADR from $93 to $60. The decision to maintain an Outperform rating is influenced by the company’s robust pipeline, particularly the potential of its lead GLP-1 program, aleniglopron. Although market share assumptions for aleniglopron have been reduced due to rising competition, the program still offers significant out-licensing opportunities with an estimated 25% royalty on global net sales.
Additionally, the company’s financial health is strong, with a reported cash balance of $883.5 million expected to support operations through at least 2027. This financial stability allows the company to continue advancing its pipeline, including the completion of enrollment in Phase 2b trials for aleniglopron and the initiation of Phase 1 trials for other promising candidates. The ongoing development and strategic focus on cardiometabolic and other therapeutic areas underpin the positive outlook for Structure Therapeutics, Inc.
Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, AnaptysBio, and Regeneron. According to TipRanks, Risinger has an average return of 10.3% and a 56.15% success rate on recommended stocks.
In another report released on March 3, Morgan Stanley also maintained a Buy rating on the stock with a $118.00 price target.
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