Sagimet Biosciences (NASDAQ:SGMT) Announces Quarterly Earnings Results

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

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $3.51 on Friday. The firm has a 50 day moving average of $4.32 and a 200 day moving average of $4.45. Sagimet Biosciences has a 12-month low of $2.39 and a 12-month high of $7.38.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SGMT. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a research report on Tuesday. Oppenheimer began 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. One investment 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 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.