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Cantor Fitzgerald has initiated coverage of Structure Therapeutics (NASDAQ:GPCR) with an overweight rating, citing the company’s upcoming readout for its oral GLP-1 anti-obesity drug GSBR-1290 and inexpensive valuation.
Cantor noted that Eli Lilly’s (LLY) orforglipron, which is in Phase 3 testing, “has shown the strongest profile among oral GLP-1s.” Obesity data on GSBR-1290 is expected in Q2.
The investment firm said it has “high conviction” that GSBR-1290 will show similar to slightly better weight loss to orforglipron, which should result in stock upside of 60% to 100%.
Cantor is also bullish on Structure’s amylin drug program for obesity, adding that the company appears to have a “differentiated, maybe even breakthrough, approach.”
The investment firm set its price target for the stock at $65.
