Sagimet Biosciences (NASDAQ:SGMT) Releases Earnings Results, Beats Expectations By $0.15 EPS

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.15, Zacks reports.

Sagimet Biosciences Stock Performance

SGMT traded up $0.23 during trading on Friday, reaching $3.74. The stock had a trading volume of 274,951 shares, compared to its average volume of 869,480. The business has a 50-day moving average of $4.28 and a 200-day moving average of $4.46. Sagimet Biosciences has a one year low of $2.39 and a one year high of $7.38. The stock has a market cap of $114.72 million, a PE ratio of -2.62 and a beta of 2.57.

Analysts Set New Price Targets

A number of research analysts have recently commented on SGMT shares. Oppenheimer started coverage on shares of Sagimet Biosciences in a research report on Friday, December 6th. They set an "outperform" rating and a $30.00 price target for the company. HC Wainwright restated a "buy" rating and set a $32.00 target price on shares of Sagimet Biosciences in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.