Sagimet Biosciences (SGMT) Expected to Announce 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 posted its quarterly 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 Price Performance

Shares of Sagimet Biosciences stock opened at $3.99 on Friday. Sagimet Biosciences has a 1 year low of $2.39 and a 1 year high of $7.38. The stock has a market cap of $122.39 million, a price-to-earnings ratio of -2.79 and a beta of 2.57. The firm’s 50-day moving average is $4.10 and its two-hundred day moving average is $4.47.

Analyst Ratings Changes

Several research firms have recently weighed in on SGMT. Oppenheimer assumed coverage on shares of Sagimet Biosciences in a report 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 price target 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 given a buy rating to the company’s stock. According to data from MarketBeat, Sagimet Biosciences has an average 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.