Thomas Smith, an analyst from Leerink Partners, reiterated the Buy rating on Sagimet Biosciences, Inc. Class A. The associated price target is $26.00.
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Thomas Smith has given his Buy rating due to a combination of factors related to Sagimet Biosciences, Inc.’s promising clinical developments and strategic positioning in the market. The company is advancing its pipeline with the lead asset denifanstat and the next-generation FASN inhibitor TVB-3567. The ongoing Phase 1 study for TVB-3567 in acne, along with the planned study of denifanstat in combination with resmetirom, highlights the potential of these treatments in addressing significant medical needs.
Moreover, Sagimet Biosciences is seen as an attractive investment opportunity due to its competitive positioning in the MASH and broader NASH markets. The company’s assets are trading at a discount compared to competitors, providing a favorable entry point for investors. The clinical data supporting denifanstat’s efficacy and safety, particularly in combination with resmetirom, further strengthens the case for the company’s growth potential and market leverage.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $0.00 price target.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SGMT in relation to earlier this year.