Sagimet Biosciences Inc. (NASDAQ:SGMT) Forecasted to Post FY2023 Earnings of ($1.33) Per Share

Sagimet Biosciences Inc. (NASDAQ:SGMTFree Report) – Leerink Partnrs issued their FY2023 earnings estimates for shares of Sagimet Biosciences in a research report issued to clients and investors on Monday, March 25th. Leerink Partnrs analyst T. Smith forecasts that the company will post earnings per share of ($1.33) for the year. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($2.04) per share. Leerink Partnrs also issued estimates for Sagimet Biosciences’ Q4 2023 earnings at ($0.47) EPS, Q1 2024 earnings at ($0.44) EPS, Q2 2024 earnings at ($0.43) EPS, Q3 2024 earnings at ($0.56) EPS, Q4 2024 earnings at ($0.79) EPS, FY2024 earnings at ($2.23) EPS, FY2025 earnings at ($3.46) EPS, FY2026 earnings at ($4.91) EPS, FY2027 earnings at ($6.94) EPS and FY2028 earnings at ($5.56) EPS.

Other equities research analysts have also recently issued research reports about the stock. SVB Leerink assumed coverage on shares of Sagimet Biosciences in a research report on Monday. They issued an “outperform” rating and a $26.00 price target for the company. JMP Securities decreased their price objective on shares of Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $41.50.

View Our Latest Research Report on Sagimet Biosciences

Sagimet Biosciences Price Performance

Sagimet Biosciences stock opened at $5.23 on Wednesday. Sagimet Biosciences has a 1 year low of $2.13 and a 1 year high of $20.71. The firm has a 50-day moving average of $7.53 and a two-hundred day moving average of $6.45.

Institutional Investors Weigh In On Sagimet Biosciences

Institutional investors have recently made changes to their positions in the stock. UBS Group AG purchased a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at approximately $26,000. Rhumbline Advisers purchased a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at approximately $48,000. New York State Common Retirement Fund purchased a new stake in shares of Sagimet Biosciences in the 3rd quarter valued at approximately $56,000. Barclays PLC purchased a new stake in shares of Sagimet Biosciences in the 4th quarter valued at approximately $41,000. Finally, Virtu Financial LLC purchased a new stake in shares of Sagimet Biosciences in the 4th quarter valued at approximately $67,000. 87.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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