FY2029 Earnings Forecast for SGMT Issued By Leerink Partnrs

Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) - Stock analysts at Leerink Partnrs issued their FY2029 EPS estimates for shares of Sagimet Biosciences in a report released on Wednesday, February 5th. Leerink Partnrs analyst T. Smith anticipates that the company will post earnings of ($1.22) per share for the year. The consensus estimate for Sagimet Biosciences' current full-year earnings is ($1.61) per share.

Other equities analysts also recently issued research reports about the company. UBS Group initiated coverage on Sagimet Biosciences in a research report on Tuesday, November 12th. They set a "buy" rating and a $12.00 target price for the company. Oppenheimer assumed coverage on Sagimet Biosciences in a report on Friday, December 6th. They set an "outperform" rating and a $30.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Sagimet Biosciences Stock Up 5.1 %

SGMT traded up $0.24 during midday trading on Friday, reaching $4.81. 672,047 shares of the company's stock were exchanged, compared to its average volume of 1,328,792. The business has a 50-day simple moving average of $4.80 and a two-hundred day simple moving average of $4.31. Sagimet Biosciences has a one year low of $2.39 and a one year high of $8.75.

Institutional Trading of Sagimet Biosciences

Several hedge funds have recently modified their holdings of SGMT. Jacksonville Wealth Management LLC bought a new position in Sagimet Biosciences in the 4th quarter valued at $45,000. American Century Companies Inc. bought a new position in shares of Sagimet Biosciences in the 4th quarter worth $90,000. Stoneridge Investment Partners LLC boosted its position in shares of Sagimet Biosciences by 22.2% in the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company's stock worth $94,000 after purchasing an additional 3,780 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Sagimet Biosciences in the 3rd quarter worth $119,000. Finally, Barclays PLC boosted its position in shares of Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock worth $159,000 after purchasing an additional 7,178 shares during the last quarter. 87.86% of the stock is owned by institutional investors.

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.