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

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

Sagimet Biosciences Stock Performance

Shares of NASDAQ:SGMT opened at $3.51 on Thursday. Sagimet Biosciences has a 52 week low of $2.39 and a 52 week high of $7.38. The firm has a 50 day simple moving average of $4.32 and a 200 day simple moving average of $4.45.

Analyst Upgrades and Downgrades

Several research firms recently commented on SGMT. HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a research note on Tuesday. Oppenheimer started coverage on shares of Sagimet Biosciences in a research 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 stock has an average rating of “Moderate Buy” and an average target price 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.