Analyst Debanjana Chatterjee of JonesTrading maintained a Buy rating on Sagimet Biosciences, Inc. Class A, retaining the price target of $26.00.
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Debanjana Chatterjee has given her Buy rating due to a combination of factors. Sagimet Biosciences recently entered into an exclusive licensing agreement with TAPI Technology & API Services, a subsidiary of Teva, which provides rights to innovative forms of the resmetirom API. This partnership is strategically beneficial for Sagimet as it allows them to develop a fixed-dose combination (FDC) with denifanstat for the treatment of advanced liver conditions like F4 MASH without infringing on Madrigal’s intellectual property while utilizing the synergistic potential of resmetirom and denifanstat.
Furthermore, Sagimet’s pipeline development offers promising opportunities. The company plans to advance from early clinical trials to a Phase 2 trial for their denifanstat-resmetirom combination therapy by the second half of 2026, leveraging data from the ongoing Phase 1 study. Additionally, management is pursuing potential treatments for acne with their next-generation FASNi molecule, emphasizing long-term upside benefits with extended patent protection. These strategic developments position Sagimet well within the healthcare space and support the firm’s confidence in recommending a Buy rating.