Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $35.80.
Several analysts recently weighed in on SGMT shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $6.00 price objective (down from $23.00) on shares of Sagimet Biosciences in a research note on Friday, June 28th. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Sagimet Biosciences in a research report on Friday, June 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $48.00 target price on shares of Sagimet Biosciences in a research report on Friday, June 7th.
Check Out Our Latest Stock Analysis on SGMT
Insider Transactions at Sagimet Biosciences
Institutional Investors Weigh In On Sagimet Biosciences
Several large investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its stake in Sagimet Biosciences by 312.0% during the first quarter. American International Group Inc. now owns 11,372 shares of the company’s stock worth $62,000 after purchasing an additional 8,612 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Sagimet Biosciences during the first quarter worth approximately $72,000. ORG Partners LLC acquired a new stake in Sagimet Biosciences during the second quarter worth approximately $43,000. Nations Financial Group Inc. IA ADV acquired a new stake in Sagimet Biosciences during the second quarter worth approximately $51,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Sagimet Biosciences in the first quarter valued at approximately $91,000. Institutional investors and hedge funds own 87.86% of the company’s stock.
Sagimet Biosciences Stock Down 11.8 %
NASDAQ:SGMT opened at $3.07 on Tuesday. The stock’s 50-day simple moving average is $3.90 and its 200 day simple moving average is $5.40. Sagimet Biosciences has a twelve month low of $2.13 and a twelve month high of $20.71.
Sagimet Biosciences (NASDAQ:SGMT – Get Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.18. As a group, sell-side analysts predict that Sagimet Biosciences will post -1.76 EPS for the current year.
About Sagimet Biosciences
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.
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