HC Wainwright maintains Buy rating for Sagimet Biosciences with $29 PT.

HC Wainwright maintains Buy rating for Sagimet Biosciences with $29 PT.

In a recent update, HC Wainwright has maintained its Buy rating for Sagimet Biosciences Inc. (NASDAQ:SGMT) while raising its price target to $29. This move comes amidst positive developments in the company's pipeline and strategic initiatives.

Sagimet Biosciences, a clinical-stage biopharmaceutical company, is focused on developing therapeutics for metabolic and fibrotic disorders. The company's lead drug candidate, denifanstat, is an oral, once-daily pill and a selective fatty acid synthase (FASN) inhibitor. Denifanstat is currently being tested in Phase III clinical trials for moderate to severe acne vulgaris and recurrent glioblastoma multiforme (GBM) in combination with bevacizumab.

The upgrade by HC Wainwright reflects the company's potential to capture significant market share in these therapeutic areas. The analyst firm noted that the positive Phase III results for denifanstat in the treatment of moderate to severe acne vulgaris, announced in June 2025, have bolstered the company's prospects. Additionally, the company's participation in the Canaccord Genuity 45th Annual Growth Conference on August 13, 2025, will provide an opportunity for further insights and updates on its pipeline and strategic initiatives [3].

Sagimet Biosciences has also seen a significant increase in its stock price over the past year, with a 3-year change of +175.24% and a 5-year change of +20.71%. The company's valuation metrics, such as P/E ratio and EV/Sales ratio, indicate strong growth potential. However, it is essential to note that the company's financials show significant net losses, indicating the need for continued investment in research and development.

In conclusion, the upgrade by HC Wainwright to a Buy rating with a $29 price target underscores the potential of Sagimet Biosciences Inc. in the biopharmaceutical sector. The company's strong pipeline and strategic initiatives, coupled with positive clinical trial results, make it an attractive investment opportunity for investors and financial professionals.

References:
[1] https://ca.finance.yahoo.com/news/bofa-raises-amd-price-target-143715127.html
[2] https://www.marketscreener.com/quote/stock/SAGIMET-BIOSCIENCES-INC-156952317/
[3] https://www.quiverquant.com/news/Sagimet+Biosciences+Inc.+to+Participate+in+Canaccord+Genuity+45th+Annual+Growth+Conference+on+August+13%2C+2025