FY2029 Earnings Forecast for SGMT Issued By Leerink Partnrs

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Equities researchers at Leerink Partnrs issued their FY2029 earnings estimates for shares of Sagimet Biosciences in a note issued to investors 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.

Several other brokerages have also issued reports 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 Friday, November 15th. Oppenheimer started 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, UBS Group assumed coverage on Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a “buy” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Sagimet Biosciences Stock Performance

NASDAQ SGMT opened at $4.57 on Friday. Sagimet Biosciences has a 52-week low of $2.39 and a 52-week high of $8.75. The company has a 50-day simple moving average of $4.82 and a 200 day simple moving average of $4.29.

Hedge Funds Weigh In On Sagimet Biosciences

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Sagimet Biosciences by 56.7% in the 3rd quarter. Geode Capital Management LLC now owns 252,298 shares of the company’s stock worth $699,000 after purchasing an additional 91,246 shares during the period. Squarepoint Ops LLC bought a new position in shares of Sagimet Biosciences in the second quarter valued at approximately $324,000. JPMorgan Chase & Co. grew its stake in Sagimet Biosciences by 66.2% during the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock valued at $199,000 after acquiring an additional 28,690 shares in the last quarter. Barclays PLC grew its stake in Sagimet Biosciences by 14.3% during the third quarter. Barclays PLC now owns 57,230 shares of the company’s stock valued at $159,000 after acquiring an additional 7,178 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Sagimet Biosciences in the 3rd quarter worth approximately $119,000. 87.86% of the stock is currently owned by hedge funds and other 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.