It’s hard to miss the buzz surrounding a new class of obesity drugs, but a major drawback to these treatments is that they require weekly injections. Enter biotech startup Structure Therapeutics, which is hoping to change that regimen with oral GLP-1 formulations for obesity and type 2 diabetes treatment. Structure went public earlier this month, raising $161 million in an initial public offering. The stock soared 73% on its first day of trading, but pulled back in the weeks following its debut. On Tuesday, however, several firms initiated coverage of the stock with buy and outperform ratings. Positive analyst commentary rekindled interest in the stock, sending shares up more than 6%. The company’s stock symbol, GPCR, is a nod to its focus on G protein-coupled receptors, which help cells function. It has several drug candidates in the pipeline that target both pulmonary and metabolic conditions, but most interest has focused on GSBR-1290, an oral receptor agonist of glucagon-like-peptide-1, or GLP-1. Key data from the drug’s clinical trial is expected in the fourth quarter, which could be a catalyst for the stock. If all goes well, it could launch as early as 2027, which is still competitive, said Evan David Segerman, analyst at BMO Capital Markets. Novo Nordisk’s Vigovi and Ozempic are currently on the market and approved for the treatment of obesity and type 2 diabetes. Eli Lilly’s Monzaro has been approved for the treatment of type 2 diabetes and Lilly is expected to receive approval for the treatment of obesity later this year. GPCR 1M Mountain shares have pulled back since the stock’s debut earlier this month. “GSBR-1290 may help address a significant portion (up to 50%) of patients who do not want injection therapy or have limited access given the oral route of administration,” Siegerman wrote in a research note Tuesday. Are.” He rates the stock Outperform and has a $40 price target on it, which implies a 67% return since Monday’s close. BMO was one of a group of investment banks acting as joint bookrunners for Structured’s IPO. Jefferies analyst Chris Howerton initiated the stock with a buy rating and $34 price target — representing a 42% upside from Monday’s close. (Jefferies was the lead book runner on Structure’s IPO.) “GLP1 peptides are projected to sell $50B in diabetes/obesity by 2028,” Howerton said. “While there is room for any new GLP1 to be filled, the lead asset GSBR-1290 is uniquely positioned to fill unmet demand because it is cheaper to supply, whereas current data suggests competing small molecules but suggests a better chemical profile.” Shortages have plagued existing obesity drugs, and their cost has been prohibitive for many potential patients. The formulation of the structure could allow it “greater manufacturing scalability, faster finding effective doses and potentially fewer side effects,” Howerton said. Both analysts point to the company’s experienced management team and the ability of its drug-discovery platform to rapidly identify other small molecule therapeutics. “We expect additional clinical candidates to emerge from the platform,” said BMO’s Segerman. — CNBC’s Michael Bloom contributed to this report.