FY2024 Earnings Estimate for SGMT Issued By Leerink Partnrs

Sagimet Biosciences Inc. (NASDAQ:SGMT - Free Report) - Research analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for Sagimet Biosciences in a report issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($1.56) for the year, up from their previous forecast of ($1.60). The consensus estimate for Sagimet Biosciences' current full-year earnings is ($1.61) per share. Leerink Partnrs also issued estimates for Sagimet Biosciences' FY2025 earnings at ($3.24) EPS, FY2026 earnings at ($4.40) EPS, FY2027 earnings at ($6.13) EPS and FY2028 earnings at ($4.86) EPS.

A number of other research firms have also issued reports on SGMT. Oppenheimer assumed coverage on Sagimet Biosciences in a report on Friday, December 6th. They issued an "outperform" rating and a $30.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $32.00 target price on shares of Sagimet Biosciences in a report on Friday, November 15th. Finally, UBS Group started coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a "buy" rating and a $12.00 price target on the stock. 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, the company presently has an average rating of "Moderate Buy" and an average price target of $23.00.

Sagimet Biosciences Trading Down 3.3 %

NASDAQ:SGMT traded down $0.15 during midday trading on Monday, reaching $4.40. The company had a trading volume of 457,234 shares, compared to its average volume of 1,304,174. The stock's fifty day simple moving average is $4.77 and its 200-day simple moving average is $4.32. Sagimet Biosciences has a 12-month low of $2.39 and a 12-month high of $8.75.

Hedge Funds Weigh In On Sagimet Biosciences

Several institutional investors have recently added to or reduced their stakes in SGMT. ORG Wealth Partners LLC acquired a new position in Sagimet Biosciences in the 3rd quarter valued at about $119,000. Barclays PLC boosted its holdings in Sagimet Biosciences by 14.3% in the 3rd quarter. Barclays PLC now owns 57,230 shares of the company's stock valued at $159,000 after purchasing an additional 7,178 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sagimet Biosciences by 56.7% in the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company's stock valued at $699,000 after purchasing an additional 91,246 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Sagimet Biosciences by 66.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company's stock valued at $199,000 after purchasing an additional 28,690 shares in the last quarter. Finally, Jacksonville Wealth Management LLC purchased a new stake in Sagimet Biosciences in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 87.86% of the company's stock.

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.