Structure Therapeutics is an overlooked player in the GLP-1 market, and could one day boast a competitive product and 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. 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. Parikh estimated that Structure will launch 1290 for Type 2 diabetes, or T2D, after 2029. Additionally, Parikh thinks Structure could be an attractive partnership opportunity for larger drug companies looking to get involved in the market for obesity and Type 2 diabetes treatments.

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Persons: Eli Lilly, Hardik Parikh, Parikh, Eli Lilly's Organizations: Therapeutics, JPMorgan, pharma, Novo Nordisk, Parikh Locations: T2D