BMO Capital analyst Evan Seigerman raised the firm’s price target on Structure Therapeutics (GPCR) to $83 from $40 and keeps an Outperform rating on the shares. The analyst is citing the company’s positive Phase 1b readout for GBSR-1290 in obese patients on higher probability of success for both obesity and T2D to 40%, up from 30% prior. The 4-week data showed 4.9% weight loss at 60mg and 90mg, while the drug’s safety and tolerability profile with no discontinuations were competitive with Eli Lilly’s (LLY) oral GLP-1RA, orforglipron, the firm added.
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