Jefferies raised the firm’s price target on Structure Therapeutics to $79 from $50 and keeps a Buy rating on the shares after the company announced results from the Phase 1b multiple ascending dose, MAD, study of its highly selective oral GLP-1 receptor agonist, GSBR-1290, in healthy overweight or obese individuals. Today’s data were “de-risking with impressive weight loss and generally tolerated profile,” says the analyst, who has confidence about GSBR-1290’s profile based on the data to-date and the development plan.
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Read More on GPCR:
- Structure Therapeutics’ GBSR-1290 data ‘firmly positive’, says BMO Capital
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- Structure Therapeutics Announces Positive Results from Phase 1b Clinical Study of Oral GLP-1 Receptor Agonist GSBR-1290 and Provides Program Update
- Structure Therapeutics Announces $300 Million Private Placement Equity Financing
- Structure Therapeutics announces results from Phase 1b study of oral GLP-1
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