Sagimet Biosciences Inc. to Post Q1 2024 Earnings of ($0.37) Per Share, Leerink Partnrs Forecasts (NASDAQ:SGMT)

Sagimet Biosciences Inc. (NASDAQ:SGMTFree Report) – Equities research analysts at Leerink Partnrs increased their Q1 2024 earnings per share (EPS) estimates for shares of Sagimet Biosciences in a report issued on Tuesday, March 26th. Leerink Partnrs analyst T. Smith now anticipates that the company will earn ($0.37) per share for the quarter, up from their previous forecast of ($0.44). Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($2.15) per share. Leerink Partnrs also issued estimates for Sagimet Biosciences’ Q2 2024 earnings at ($0.41) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.80) EPS, FY2024 earnings at ($2.17) EPS, FY2025 earnings at ($3.72) EPS, FY2026 earnings at ($5.29) EPS, FY2027 earnings at ($7.40) EPS and FY2028 earnings at ($5.91) EPS.

Several other research analysts have also issued reports on the company. SVB Leerink assumed coverage on Sagimet Biosciences in a research report on Monday, March 25th. They set an “outperform” rating and a $26.00 target price for the company. JMP Securities dropped their target price on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group cut their price target on Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sagimet Biosciences presently has an average rating of “Buy” and an average target price of $41.50.

Check Out Our Latest Research Report on Sagimet Biosciences

Sagimet Biosciences Price Performance

Shares of SGMT stock opened at $5.42 on Friday. The business’s 50-day moving average price is $7.46 and its 200-day moving average price is $6.39. Sagimet Biosciences has a 12 month low of $2.13 and a 12 month high of $20.71.

Insider Buying and Selling

In other news, CEO David Happel acquired 12,100 shares of Sagimet Biosciences stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average cost of $5.27 per share, for a total transaction of $63,767.00. Following the transaction, the chief executive officer now owns 639,200 shares of the company’s stock, valued at $3,368,584. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of Sagimet Biosciences

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG bought a new position in Sagimet Biosciences in the 3rd quarter valued at approximately $26,000. Rhumbline Advisers bought a new position in Sagimet Biosciences in the 3rd quarter worth $48,000. New York State Common Retirement Fund bought a new position in shares of Sagimet Biosciences during the 3rd quarter valued at about $56,000. Barclays PLC purchased a new position in Sagimet Biosciences during the 4th quarter valued at approximately $41,000. Finally, Virtu Financial LLC purchased a new position in shares of Sagimet Biosciences in the fourth quarter valued at $67,000. Institutional investors own 87.86% of the company’s stock.

Sagimet Biosciences Company Profile

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Sagimet Biosciences Inc, a clinical-stage biopharmaceutical company, develops therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.

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