Sagimet Biosciences Inc. (NASDAQ:SGMT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sagimet Biosciences Inc. (NASDAQ:SGMTGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $35.80.

Several brokerages have recently issued reports on SGMT. The Goldman Sachs Group reiterated a “neutral” rating and issued a $6.00 price target (down previously from $23.00) on shares of Sagimet Biosciences in a research note on Friday, June 28th. SVB Leerink initiated coverage on Sagimet Biosciences in a research report on Monday, March 25th. They issued an “outperform” rating and a $26.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $48.00 target price on shares of Sagimet Biosciences in a research note on Friday, June 7th. Leerink Partnrs restated an “outperform” rating on shares of Sagimet Biosciences in a research note on Monday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a report on Friday, June 14th.

Check Out Our Latest Analysis on Sagimet Biosciences

Institutional Investors Weigh In On Sagimet Biosciences

Several hedge funds have recently added to or reduced their stakes in SGMT. American International Group Inc. grew its position in shares of Sagimet Biosciences by 312.0% in the 1st quarter. American International Group Inc. now owns 11,372 shares of the company’s stock valued at $62,000 after buying an additional 8,612 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Sagimet Biosciences in the first quarter worth approximately $72,000. Price T Rowe Associates Inc. MD bought a new stake in Sagimet Biosciences in the first quarter valued at approximately $91,000. DekaBank Deutsche Girozentrale acquired a new stake in Sagimet Biosciences during the 1st quarter valued at approximately $113,000. Finally, Acadian Asset Management LLC bought a new position in Sagimet Biosciences during the 1st quarter worth approximately $188,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

Sagimet Biosciences Price Performance

SGMT stock opened at $2.85 on Friday. The company’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $5.77. Sagimet Biosciences has a 12 month low of $2.13 and a 12 month high of $20.71.

Sagimet Biosciences (NASDAQ:SGMTGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.18. On average, sell-side analysts expect that Sagimet Biosciences will post -1.76 EPS for the current fiscal year.

About Sagimet Biosciences

(Get Free Report

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 metabolic pathways in the United States. The company's lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.

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Analyst Recommendations for Sagimet Biosciences (NASDAQ:SGMT)

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