In a year marked by significant volatility, Structure Therapeutics' stock, GPCR, has recorded a new 52-week low, dipping to $26.21, representing a dramatic decline from its 52-week high of $62.74. InvestingPro data shows 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 year-to-date decline of 28.75%. Investors are closely monitoring the stock as it navigates through a challenging market environment, with analyst price targets ranging from $65 to $118 suggesting potential upside. The 52-week low serves as a critical indicator for both the company and investors, as it encapsulates the culmination of various factors that have influenced the stock's trajectory within the last year. InvestingPro subscribers have access to additional exclusive insights and metrics that could help evaluate GPCR's recovery potential.
In other recent news, Viking Therapeutics (NASDAQ:VKTX) experienced a surge in stock following the disappointing results of Novo Nordisk (NYSE:NVO)'s obesity drug trial. The trial saw patients lose less weight than anticipated, leading to a shift in investor focus to competitors including Viking Therapeutics. Jefferies analyst Peter Welford suggested these results may raise "tolerability concerns" for patients and that expectations for CagriSema sales may be "overly optimistic."
Structure Therapeutics has been making significant strides in the obesity treatment sector. The company's lead oral small molecule for obesity treatment, ACCG-2671, has shown pre-clinical efficacy on par with Novo Nordisk's CagriSema, according to Piper Sandler. The firm has confirmed an Overweight rating and a price target of $93.00. H.C. Wainwright also maintained a positive stance on Structure Therapeutics, reiterating its Buy rating and $80.00 price target.
In other developments, BMO Capital Markets reiterated an Outperform rating and a price target of $100.00 for Structure Therapeutics. The company is preparing for the Phase 2b obesity trial of its lead pipeline asset, GSBR-1290, an oral GLP-1R agonist, slated to begin in late 2024. These are the recent developments for Viking Therapeutics and Structure Therapeutics in the competitive landscape of the obesity drug market.
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