Guggenheim raised the firm’s price target on Structure Therapeutics to $92 from $50 and keeps a Buy rating on the shares after updating the firm’s model to reflect an “increasingly positive” view on both ‘1290 and the overall GLP-1 obesity landscape following the company’s report of Phase Ib results of GLP-1 receptor agonist GSBR-1290. The firm’s “increased conviction” that ‘1290’s profile is more like orforglipron than danuglipron are reflected in its increased odds of success assumptions for ‘1290 and the oral incretin franchise in both obesity and diabetes. Guggenheim now forecasts peak risk-adjusted sales of $929M in 2031 and $2.9B in 2035, the firm noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GPCR:
- Viking Therapeutics recent 50% selloff ‘excessive,’ says William Blair
- Structure Therapeutics price target raised to $97 from $46 at Leerink
- Structure Therapeutics price target raised to $79 from $50 at Jefferies
- Structure Therapeutics’ GBSR-1290 data ‘firmly positive’, says BMO Capital
- Structure Therapeutics announces $300M private placement
Questions or Comments about the article? Write to editor@tipranks.com