TD Cowen analyst Ritu Baral has maintained their bullish stance on SGMT stock, giving a Buy rating on August 17.
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Ritu Baral has given his Buy rating due to a combination of factors that highlight the promising potential of Sagimet Biosciences, Inc. The initiation of a first-in-human Phase 1 trial for their next-generation FASN inhibitor, TVB-3567, in acne patients marks a significant milestone. This trial aims to assess the safety, tolerability, and pharmacokinetics/pharmacodynamics of the compound, with initial data expected soon.
Additionally, the company’s strategic plans to conduct a Phase 1 MASH combination trial and the positive Phase 3 acne data from their partner Ascletis further strengthen the outlook. The financial position of Sagimet, with $135 million in cash, provides a solid runway to support ongoing operations and trials. These elements collectively suggest a favorable growth trajectory for the company, justifying the Buy rating.
In another report released on August 17, JonesTrading also maintained a Buy rating on the stock with a $26.00 price target.
SGMT’s price has also changed dramatically for the past six months – from $4.060 to $7.550, which is a 85.96% increase.