William Blair analyst Andy Hsieh has reiterated their bullish stance on GPCR stock, giving a Buy rating on July 30.
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Andy Hsieh has given his Buy rating due to a combination of factors including the promising developments in Structure Therapeutics’ clinical trials. The company has made significant progress with its aleniglipron drug, particularly in the Phase IIb ACCESS trial, which now includes an open-label portion allowing all patients to receive the drug after the randomized part of the study. This extension demonstrates confidence in the drug’s efficacy and potential benefits.
Furthermore, Structure Therapeutics is advancing its research with upcoming Phase II trials focusing on obesity and type 2 diabetes, expected to begin enrollment soon. The positive Phase I results of LTSE-2578, which showed no treatment-related adverse events, further bolster the company’s prospects. Andy Hsieh believes that the small-molecule GLP-1 receptor agonist class, to which aleniglipron belongs, will play a crucial role in addressing chronic weight issues, supporting his optimistic outlook on the stock.
In another report released on July 30, Clear Street also initiated coverage with a Buy rating on the stock with a $61.00 price target.