Analyst Jonathan Wolleben of JMP Securities reiterated a Buy rating on Structure Therapeutics, Inc. Sponsored ADR (GPCR – Research Report), reducing the price target to $87.00.
Jonathan Wolleben has given his Buy rating due to a combination of factors, including the promising progress of Structure Therapeutics in its Phase 2b ACCESS trials for aleniglipron. The completion of enrollment in these trials and the anticipated data release before the end of 2025 are seen as significant catalysts for the company’s stock. Additionally, the early data for aleniglipron is comparable to Eli Lilly’s orforglipron, with Structure Therapeutics pushing to higher doses, which is expected to result in greater weight loss outcomes.
Financially, the company is well-positioned with $884 million in cash, providing a runway through at least 2027, excluding Phase 3 registrational studies. This financial stability, combined with the attractive portfolio of candidates in the small-cap biotech space, supports the Buy rating. The upcoming data from Eli Lilly’s orforglipron Phase 3 trials may impact the stock, but it also presents an opportunity ahead of Structure Therapeutics’ data release. Overall, the potential for oral small molecule incretins and the company’s strategic advancements contribute to the optimistic outlook.