In a report released today, Debanjana Chatterjee from JonesTrading maintained a Buy rating on Sagimet Biosciences, Inc. Class A, with a price target of $26.00.
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Debanjana Chatterjee has given his Buy rating due to a combination of factors tied to Sagimet Biosciences’ advancing pipeline and strategic positioning. He highlights the company’s strong clinical momentum, including favorable Phase 1 safety and pharmacokinetic data for the deni-resmetirom combination and its potential to support late-stage development in advanced MASH (F4) patients. The upcoming regulatory interactions and trial design decisions are viewed as important value inflection points, and Sagimet’s efforts to work around Madrigal’s intellectual property, supported by the TAPI licensing agreement, strengthen the long-term development pathway.
In addition, Chatterjee incorporates the emerging dermatology opportunity into his valuation, noting that an independent Harvard clinician characterized denifanstat’s acne data as highly competitive in the U.S. market. He also sees meaningful commercial potential for the broader class of FASN inhibitors across MASH, acne, and other indications, with key Phase 1 data anticipated in 2026 serving as potential catalysts. The planned C-suite engagement and management’s clear strategic roadmap reinforce his confidence in execution, supporting a continued Buy rating and a $26 price target.