Sagimet Biosciences (NASDAQ:SGMT) Issues Earnings Results

Sagimet Biosciences (NASDAQ:SGMT) released its earnings results on Wednesday. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.15, Zacks reports.

Sagimet Biosciences Stock Performance

Shares of SGMT opened at $3.51 on Thursday. Sagimet Biosciences has a 12 month low of $2.39 and a 12 month high of $7.38. The company’s fifty day moving average is $4.32 and its 200-day moving average is $4.45.

Analysts Set New Price Targets

Several brokerages have recently commented on SGMT. HC Wainwright restated a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a research note on Tuesday. Oppenheimer began coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They set an “outperform” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Sagimet Biosciences Company Profile

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.