What is Leerink Partnrs’ Estimate for SGMT FY2029 Earnings?

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Research analysts at Leerink Partnrs issued their FY2029 EPS estimates for Sagimet Biosciences in a report issued on Wednesday, February 5th. Leerink Partnrs analyst T. Smith forecasts 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.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Sagimet Biosciences in a report on Friday, November 15th. Oppenheimer began coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, UBS Group assumed coverage on shares of Sagimet Biosciences in a research note on Tuesday, November 12th. They issued a “buy” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Sagimet Biosciences Stock Down 3.0 %

Shares of SGMT stock opened at $4.57 on Friday. The business has a 50-day moving average price of $4.82 and a two-hundred day moving average price of $4.29. Sagimet Biosciences has a 12-month low of $2.39 and a 12-month high of $8.75.

Hedge Funds Weigh In On Sagimet Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of SGMT. Jacksonville Wealth Management LLC purchased a new position in Sagimet Biosciences during the 4th quarter valued at about $45,000. Stoneridge Investment Partners LLC grew its position in shares of Sagimet Biosciences by 22.2% in the 4th quarter. Stoneridge Investment Partners LLC now owns 20,836 shares of the company’s stock worth $94,000 after buying an additional 3,780 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Sagimet Biosciences during the third quarter valued at approximately $119,000. Barclays PLC raised its holdings in shares of 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, JPMorgan Chase & Co. lifted its stake in Sagimet Biosciences by 66.2% in the third quarter. JPMorgan Chase & Co. now owns 72,017 shares of the company’s stock worth $199,000 after acquiring an additional 28,690 shares during the period. 87.86% of the stock is owned by 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.