Structure Therapeutics could one day boast a competitive obesity product an go up against Eli Lilly and the like, according to JPMorgan.
Structure Therapeutics is an overlooked player in the GLP-1 market, and could one day boast a competitive product an go up against Eli Lilly and the like, according to JPMorgan. Analyst Hardik Parikh initiated research coverage on the clinical stage drug developer with an overweight rating and $65 price target, implying 82% potential upside. This year, the stock is down 12%.
He expects 1290 could be the first non-Eli Lilly and non-Novo Nordisk oral GLP-1 on the market by 2029, and said it seems like a competitive oral GLP-1 profile in line with its lead competitor, Eli Lilly's oral nonpeptide GLP-1 receptor agonist orforglipron, which he said should hit the market in 2026. Parikh estimated that Structure will launch 1290 for type 2 diabetes after 2029.
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