Sagimet Biosciences Inc. to Post Q2 2024 Earnings of ($0.40) Per Share, HC Wainwright Forecasts (NASDAQ:SGMT)
Sagimet Biosciences Inc. (NASDAQ:SGMT – Free Report) – Analysts at HC Wainwright raised their Q2 2024 earnings per share (EPS) estimates for shares of Sagimet Biosciences in a report released on Thursday, May 16th. HC Wainwright analyst E. Arce now anticipates that the company will post earnings per share of ($0.40) for the quarter, up from their previous forecast of ($0.41). HC Wainwright currently has a “Buy” rating and a $32.00 price objective on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.89) per share. HC Wainwright also issued estimates for Sagimet Biosciences’ Q3 2024 earnings at ($0.58) EPS, Q4 2024 earnings at ($0.93) EPS, FY2024 earnings at ($2.15) EPS, FY2025 earnings at ($5.09) EPS, FY2026 earnings at ($6.13) EPS, FY2027 earnings at ($5.47) EPS and FY2028 earnings at ($3.03) EPS. Other analysts have also recently issued research reports about the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Sagimet Biosciences in a report on Monday, March 25th. SVB Leerink began coverage on Sagimet Biosciences in a report on Monday, March 25th. They issued an “outperform” rating and a $26.00 price target on the stock. JMP Securities lowered their price target on Sagimet Biosciences from $47.00 to $46.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group decreased their price objective on Sagimet Biosciences from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $38.80. Check Out Our Latest Analysis on SGMT Sagimet Biosciences Stock Down 2.7 % NASDAQ:SGMT opened at $4.62 on Monday. The business’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $5.64. Sagimet Biosciences has a twelve month low of $2.13 and a twelve month high of $20.71. Insider Activity at Sagimet Biosciences In other news, CEO David Happel acquired 12,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought 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 in the company, valued at approximately $3,368,584. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.60% of the stock is currently owned by insiders. Hedge Funds Weigh In On Sagimet Biosciences A number of large investors have recently bought and sold shares of the stock. FMR LLC purchased a new position in Sagimet Biosciences in the 3rd quarter worth approximately $23,517,000. Vanguard Group Inc. increased its stake in Sagimet Biosciences by 364.9% in the 1st quarter. Vanguard Group Inc. now owns 1,139,407 shares of the company’s stock worth $6,176,000 after purchasing an additional 894,319 shares during the period. Rock Springs Capital Management LP purchased a new position in Sagimet Biosciences in the 3rd quarter worth approximately $6,498,000. Ikarian Capital LLC purchased a new position in Sagimet Biosciences in the 1st quarter worth approximately $2,236,000. Finally, RTW Investments LP bought a new stake in shares of Sagimet Biosciences in the 3rd quarter worth approximately $3,522,000. 87.86% of the stock is owned by hedge funds and other institutional investors. About Sagimet Biosciences (Get Free Report) 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. See Also Five stocks we like better than Sagimet Biosciences What is the Dogs of the Dow Strategy? Overview and Examples MarketBeat Week in Review – 5/13 – 5/17 What is Put Option Volume? Take-Two Interactive Software Offers 2nd Chance for Investors What Are Dividend Champions? How to Invest in the Champions Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
