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

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

Sagimet Biosciences Stock Up 1.6 %

SGMT stock traded up $0.06 during mid-day trading on Wednesday, reaching $3.46. The company’s stock had a trading volume of 39,548 shares, compared to its average volume of 891,573. The company’s 50 day moving average is $4.34 and its two-hundred day moving average is $4.45. Sagimet Biosciences has a fifty-two week low of $2.39 and a fifty-two week high of $7.38.

Wall Street Analysts Forecast Growth

SGMT has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of Sagimet Biosciences in a research report on Tuesday. UBS Group initiated coverage on Sagimet Biosciences in a research report on Tuesday, November 12th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Sagimet Biosciences in a report on Friday, December 6th. They issued an “outperform” rating and a $30.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

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.