Sagimet Biosciences (NASDAQ:SGMT) Price Target Cut to $46.00 by Analysts at JMP Securities

Sagimet Biosciences (NASDAQ:SGMTFree Report) had its price target decreased by JMP Securities from $47.00 to $46.00 in a research note released on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Separately, The Goldman Sachs Group increased their price objective on shares of Sagimet Biosciences from $30.00 to $37.00 and gave the stock a buy rating in a report on Tuesday, January 23rd.

Read Our Latest Analysis on SGMT

Sagimet Biosciences Stock Performance

Sagimet Biosciences stock opened at $6.58 on Wednesday. The firm’s 50-day moving average is $7.02 and its 200-day moving average is $8.36. Sagimet Biosciences has a 1 year low of $2.13 and a 1 year high of $20.71.

Sagimet Biosciences (NASDAQ:SGMTGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.67. The firm had revenue of $2.00 million during the quarter. On average, equities research analysts forecast that Sagimet Biosciences will post -20.25 earnings per share for the current year.

Hedge Funds Weigh In On Sagimet Biosciences

Large investors have recently bought and sold shares of the stock. UBS Group AG acquired a new position in Sagimet Biosciences during the 3rd quarter valued at about $26,000. Rhumbline Advisers acquired a new position in Sagimet Biosciences during the 3rd quarter valued at about $48,000. New York State Common Retirement Fund acquired a new position in shares of Sagimet Biosciences in the 3rd quarter worth approximately $56,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Sagimet Biosciences in the 3rd quarter worth approximately $111,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Sagimet Biosciences in the 3rd quarter worth approximately $158,000.

About Sagimet Biosciences

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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 lipid metabolism pathways. Its lead drug candidate is Denifanstat, a FASN inhibitor for the treatment of nonalcoholic steatohepatitis and acne.

Further Reading

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