JonesTrading starts coverage on drug developer Sagimet with 'buy' rating
27/01/2025 13:55
** JonesTrading starts coverage on drug developer Sagimet
Biosciences SGMT.O with "buy" rating, sets PT at $42
** PT represents 900% upside to stock's last close
** Brokerage says co's experimental drug, denifanstat, is
"overlooked potential" in treating metabolic
dysfunction-associated steatohepatitis (MASH)
** MASH is a severe liver disease caused by fat buildup,
leading to inflammation and damage
** JonesTrading notes denifanstat has " best-in-disease
potential for fibrosis improvement as GLP-1 combo" with
"well-derisked lead asset" in expanding market
** Brokerage says it estimates peak sales of $1.6 bln for
denifanstat in 2034
** SGMT fell 15.6% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Recent news on Sagimet Biosciences
See all newsBrief: Sagimet Biosciences Announces Pricing Of $115.0 Million Underwritten Offering Of Series A Common Stock And Pre-Funded Warrants
Brief: Sagimet Biosciences - Suspends And Terminates ATM Prospectus Supplement For Series A Common Stock Effective Sept 30
Brief: Sagimet Biosciences Advances AURORA U.S. Phase 3 Trial Of Denifanstat In Acne Toward Patient Enrollment In Q4 2026
Brief: Sagimet Biosciences Phase 3 Clinical Trial Is On Track To Initiate In Second Half Of 2026
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