Diamond Member Pelican Press 0 Posted May 21, 2024 Diamond Member Share Posted May 21, 2024 JPMorgan says there’s a new GLP-1 ***** player and it can rally 80% 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 ***** developer with an overweight rating and $65 price target, implying 82% potential upside. This year, the stock is down 12%. “We think the opportunity for ***** GLP-1s is underappreciated and think this market could generate $30bn in sales by 2035,” Parikh wrote in a note Tuesday. “GPCRs lead asset, 1290, is a pure-play option for this opportunity, and even a small share would support substantial upside to the stock.” According to Parikh, Structure’s current $1.7 billion market value undervalues 1290’s peak sales opportunity to generate more than $1 billion by 2035. Structure has advantages over other major pharma companies entering the market, including a small molecule formation, while some competitors have ***** peptides which are ******* to manufacture, and a slight time-to-market advantage, he said. He expects 1290 could be the first non-Eli Lilly and non-Novo Nordisk ***** GLP-1 on the market by 2029, and said it seems like a competitive ***** GLP-1 profile in line with its lead competitor, Eli Lilly’s ***** 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(T2D) after 2029. “1290s weight loss efficacy in obesity seems on par and we see no reason why this can’t continue in longer duration trials. It is a step or two behind in T2D but can still be competitive over time with higher dosing,” Parikh said, adding that there are no major concerns on safety seen in clinical trials and that higher than normal rates of gastrointestinal events in phase 2 trials seem manageable and addressable. “Overall, 1290 should have a competitive efficacy/safety profile, and it should also have fewer manufacturing hurdles compared to at least some of the other competitors entering” the market in 2030 and beyond. Additionally, Parikh thinks Structure could be an attractive partnership opportunity for larger ***** companies looking to get involved in the market for obesity and type 2 diabetes treatments. This is the hidden content, please Sign In or Sign Up Biotech and Pharmaceuticals,Pharmaceuticals,Investment strategy,Stock markets,Structure Therapeutics Inc,Eli Lilly and Co,business news #JPMorgan #GLP1 #***** #player #rally This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/35446-jpmorgan-says-there%E2%80%99s-a-new-glp-1-drug-player-and-it-can-rally-80/ Share on other sites More sharing options...
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