Structure Therapeutics initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Prakhar Agrawal initiated coverage of Structure Therapeutics with an Overweight rating and $65 price target. Structure Therapeutics has a unique platform to develop oral, small molecule drugs for large chronic indications like obesity, diabetes, and pulmonary, the analyst tells investors in a research note. Based on Cantor’s modeling of weight loss trajectory, the firm has high conviction that lead drug GSBR-1290 will show similar-to-slightly-better weight loss to orforglipron that should result in significant stock upside. The firm is very bullish on amylin in obesity and Structure has a differentiated approach, the firm adds.