Morgan Stanley analyst Terence Flynn initiated coverage of Structure Therapeutics with an Overweight rating and $118 price target. The company’s lead pipeline asset, GSBR-1290, is an oral GLP-1 drug entering a Phase 2b obesity trial in Q4, which has a competitive profile based on Phase 1/2a data, the analyst tells investors in a research note. The firm sees room in the $100B-plus diabesity market for orals and injectables. It models a GSBR-1290 U.S. launch in 2028, and 2040 worldwide sales of $6.3B.
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