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

Sagimet Biosciences (NASDAQ:SGMT) is projected to issue 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 announced its earnings results on Wednesday, March 12th. The company reported ($0.50) EPS for the quarter, beating 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 Price Performance

Shares of Sagimet Biosciences stock opened at $3.99 on Friday. The firm’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $4.48. The stock has a market capitalization of $122.39 million, a price-to-earnings ratio of -2.79 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

Several equities research analysts have commented on SGMT shares. Oppenheimer started coverage on shares of Sagimet Biosciences in a research report on Friday, December 6th. They set an “outperform” rating and a $30.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $32.00 target price on shares of Sagimet Biosciences in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.