Sagimet Biosciences (SGMT) Expected to Announce Earnings on Monday

Sagimet Biosciences (NASDAQ:SGMT) is expected to release its earnings data before the market opens on Monday, March 24th. Analysts expect Sagimet Biosciences to post earnings of ($0.65) per share for the quarter.

Sagimet Biosciences (NASDAQ:SGMT) last issued its earnings results on Wednesday, March 12th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.15. On average, analysts expect Sagimet Biosciences to post $-2 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Sagimet Biosciences Trading Up 6.6 %

Shares of SGMT stock opened at $3.74 on Monday. The firm has a fifty day moving average price of $4.28 and a 200 day moving average price of $4.46. The company has a market cap of $114.72 million, a P/E ratio of -2.62 and a beta of 2.57. Sagimet Biosciences has a 12 month low of $2.39 and a 12 month high of $7.38.

Analyst Ratings Changes

A number of brokerages recently commented on SGMT. 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 target price for the company. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.00.

About Sagimet Biosciences

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.