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

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Leerink Partnrs issued their FY2023 EPS estimates for shares of Sagimet Biosciences in a report issued on Monday, March 25th. Leerink Partnrs analyst T. Smith anticipates 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 ($2.15) 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.

SGMT has been the subject of several other research reports. The Goldman Sachs Group reduced their price objective on shares of Sagimet Biosciences from $37.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday. SVB Leerink assumed coverage on Sagimet Biosciences in a report on Monday. They issued an “outperform” rating and a $26.00 target price on the stock. Finally, JMP Securities lowered their price target on Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $41.50.

Sagimet Biosciences Stock Performance

Shares of NASDAQ:SGMT opened at $5.42 on Wednesday. Sagimet Biosciences has a 12-month low of $2.13 and a 12-month high of $20.71. The company has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $6.44.

Insider Transactions at Sagimet Biosciences

In other Sagimet Biosciences news, CEO David Happel bought 12,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average cost of $5.27 per share, with a total value of $63,767.00. Following the acquisition, the chief executive officer now owns 639,200 shares of the company’s stock, valued at $3,368,584. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Sagimet Biosciences

Large investors have recently modified their holdings of the stock. FMR LLC bought a new stake in shares of Sagimet Biosciences during the 3rd quarter worth $23,517,000. Rock Springs Capital Management LP bought a new position in Sagimet Biosciences in the third quarter valued at about $6,498,000. RTW Investments LP acquired a new stake in shares of Sagimet Biosciences in the third quarter valued at about $3,522,000. Platinum Investment Management Ltd. acquired a new stake in shares of Sagimet Biosciences in the third quarter valued at about $3,378,000. Finally, Blue Owl Capital Holdings LP acquired a new stake in shares of Sagimet Biosciences in the fourth quarter valued at about $1,926,000. 87.86% of the stock is owned by institutional investors and hedge funds.

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