Structure Therapeutics Obesity Candidate Is 'Very Competitive' To Eli Lilly's Orforglipron, Analyst Says
Portfolio Pulse from Vandana Singh
Structure Therapeutics Inc. (NASDAQ: GPCR) revealed positive 12-week topline obesity data from its Phase 2a study of GSBR-1290, showing a significant weight decrease. Cantor Fitzgerald maintains an Overweight rating with a $65 price target, noting GSBR-1290's competitiveness with Eli Lilly's (NYSE: LLY) orforglipron. The study's rapid titration schedule led to high GI events, but these are expected to reduce with a slower schedule without affecting efficacy.
June 03, 2024 | 7:14 pm
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NEUTRAL IMPACT
Eli Lilly's orforglipron is noted as a competitive benchmark for Structure Therapeutics' GSBR-1290. Despite high GI events in early trials, improvements are expected in later phases.
While Structure Therapeutics' GSBR-1290 shows promise, Eli Lilly's orforglipron remains a strong competitor. The news may not significantly impact LLY's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Structure Therapeutics' GSBR-1290 showed significant weight loss in Phase 2a study. Cantor Fitzgerald maintains Overweight rating with a $65 price target, noting its competitiveness with Eli Lilly's orforglipron. GI events expected to reduce with slower titration.
The positive Phase 2a results and the maintained Overweight rating with a high price target from Cantor Fitzgerald are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100