In a year marked by significant volatility, shares of Structure Therapeutics, GPCR, hit a new 52-week low of $26.21, a dramatic drop from the 52-week high of $62.74. InvestingPro data shows that the company maintains a solid current ratio of 27.63, indicating strong short-term liquidity. This latest price level reflects a stark contrast to the stock’s performance over the past year, with InvestingPro showing a 28.75% year-to-date decline. Investors are closely watching the stock as it navigates a challenging market environment, with analysts’ price targets ranging from $65 to $118 indicating potential upside. The 52-week low serves as a critical indicator for both the company and investors, as it summarizes the culmination of various factors that have influenced the stock’s trajectory over the past year. InvestingPro subscribers have access to additional exclusive insights and metrics that could help assess GPCR’s recovery potential.
In other recent news, Viking Therapeutics (NASDAQ: ) saw its stock rally after disappointing trial results for Novo Nordisk’s (NYSE: ) obesity drug. During the trial, patients lost less weight than expected, leading investors to shift their focus to competitors, including Viking Therapeutics. Jefferies analyst Peter Welford suggested these results could raise “tolerability concerns” for patients and that expectations for CagriSem sales could be “overly optimistic”.
Structure Therapeutics is making significant strides in the obesity treatment sector. The company’s lead oral small molecule for the treatment of obesity, ACCG-2671, has shown preclinical efficacy on par with Novo Nordisk’s CagriSema, according to Piper Sandler. The company reaffirmed an Overweight rating and a $93.00 target price. HC Wainwright also maintained a positive view on Structure Therapeutics, reiterating its Buy rating and $80.00 price target.
In other developments, BMO Capital Markets reiterated an outperform rating and set a $100.00 price target on Structure Therapeutics. The company is gearing up for a Phase 2b obesity trial of its lead pipeline asset, GSBR-1290, an oral GLP-1R agonist, scheduled to begin in late 2024. These are recent developments for Viking Therapeutics and Structure Therapeutics in the competitive landscape of the obesity drug market.
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