Sagimet Biosciences (SGMT) Projected to Post Quarterly Earnings on Monday

Sagimet Biosciences (NASDAQ:SGMT) will likely be issuing its quarterly earnings data before the market opens on Monday, March 24th. Analysts expect the company to announce earnings of ($0.65) per share for the quarter.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.50) earnings per share (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 Stock Down 1.5 %

Shares of Sagimet Biosciences stock opened at $3.99 on Friday. Sagimet Biosciences has a 52-week low of $2.39 and a 52-week high of $7.38. The company has a 50 day moving average of $4.10 and a 200 day moving average of $4.48. The company has a market capitalization of $122.39 million, a P/E ratio of -2.79 and a beta of 2.57.

Analyst Ratings Changes

SGMT has been the subject of a number of recent research reports. Oppenheimer initiated coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They issued an “outperform” rating and a $30.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Sagimet Biosciences in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Sagimet Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

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.