Sagimet Biosciences price target raised to $35 from $33 at Citizens JMP

Citizens JMP analyst Jonathan Wolleben raised the firm’s price target on Sagimet Biosciences (SGMT) to $35 from $33 and keeps an Outperform rating on the shares. Sagimet will have first-in-human data next year for the denifanstat and resmetirom combination which could be a promising option for F4 MASH patients and its next-gen FASN inhibitor TVB-3567 which could be an effective acne treatment, the analyst tells investors in a research note. Given denifanstat’s potent anti-fibrotic effects in F2/F3 patients and resmetirom’s non-invasive data in cirrhotics, the combination could be compelling, the firm says.