NVO - Structure Therapeutics Stock Could Rocket 87% Higher According to 1 Wall Street Analyst. Is It Time to Buy?
2024-06-11 04:57:00 ET
Shares of Structure Therapeutics (NASDAQ: GPCR) shot up more than 50% during the first week of June. The stock market is responding to a positive readout for an experimental weight-management drug the company is working on.
Structure Therapeutics is a clinical-stage drugmaker developing an orally available therapy, called GSBR-1290. Structure's lead candidate works like semaglutide, the active ingredient in Ozempic from Novo Nordisk (NYSE: NVO) , to manage food cravings, but it could be much easier to manufacture and distribute.
Encouraging phase 2 results convinced Evan Seigerman at BMO Capital Markets to raise his price target on the stock to $100 per share. The new target implies an 87% gain from recent prices.
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Structure Therapeutics Stock Could Rocket 87% Higher, According to 1 Wall Street Analyst. Is It Time to Buy?