In a report released yesterday, Ed Arce from H.C. Wainwright maintained a Buy rating on Sagimet Biosciences, Inc. Class A (SGMT – Research Report), with a price target of $32.00.
Ed Arce has given his Buy rating due to a combination of factors including the promising developments in Sagimet Biosciences’ pipeline. The company has received clearance for its IND application for TVB-3567, a fatty acid synthase inhibitor aimed at treating acne, which is expected to enter a first-in-human Phase 1 trial in 2025. This trial will assess the safety and efficacy of TVB-3567, building on positive data from previous trials of its lead FASN inhibitor, denifanstat, in China.
Furthermore, Sagimet’s denifanstat has shown significant potential in treating MASH, with a Phase 3 program set to begin in the first quarter of 2025. The drug has demonstrated a differentiated mechanism of action and anti-fibrotic effects in MASH patients, confirmed by AI-based digital pathology analyses. Additionally, denifanstat has shown promising cardiovascular benefits, such as reducing LDL-C levels and improving lipid profiles, which are crucial for patient outcomes. These factors collectively support the Buy rating for Sagimet Biosciences.
According to TipRanks, Arce is a 5-star analyst with an average return of 13.8% and a 45.40% success rate. Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Ultragenyx Pharmaceutical, and Akero Therapeutics.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $31.00 price target.