FY2029 Earnings Forecast for SGMT Issued By HC Wainwright

Sagimet Biosciences Inc. (NASDAQ:SGMT) – Equities researchers at HC Wainwright boosted their FY2029 earnings per share (EPS) estimates for Sagimet Biosciences in a report issued on Monday, October 5th. HC Wainwright analyst B. Folkes now forecasts that the company will post earnings per share of $0.89 for the year, up from their previous forecast of $0.81. HC Wainwright currently has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for Sagimet Biosciences’ current full-year earnings is ($1.14) per share. HC Wainwright also issued estimates for Sagimet Biosciences’ FY2030 earnings at $2.28 EPS.

Sagimet Biosciences (NASDAQ:SGMT) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01).

Several other research firms have also recently weighed in on SGMT. Oppenheimer boosted their price objective on shares of Sagimet Biosciences from $33.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, October 1st. Canaccord Genuity Group raised their target price on shares of Sagimet Biosciences from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Barclays raised shares of Sagimet Biosciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $18.00 in a research report on Wednesday, September 9th. Citizens Jmp decreased their target price on shares of Sagimet Biosciences from $29.00 to $27.00 and set a “market outperform” rating for the company in a research note on Thursday, October 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Sagimet Biosciences in a report on Thursday, October 1st. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sagimet Biosciences has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Sagimet Biosciences Stock Up 1.4%

Shares of NASDAQ SGMT opened at $8.88 on Tuesday. The firm’s 50-day moving average price is $9.92 and its 200-day moving average price is $7.86. The company has a market cap of $551.98 million, a PE ratio of -6.94 and a beta of 3.46. Sagimet Biosciences has a 52-week low of $4.50 and a 52-week high of $11.45.

Insider Activity

In related news, insider Elizabeth Rozek sold 10,545 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $81,829.20. Following the transaction, the insider owned 224,414 shares of the company’s stock, valued at approximately $1,741,452.64. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director George Kemble sold 20,206 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $9.95, for a total transaction of $201,049.70. Following the sale, the director owned 62,161 shares of the company’s stock, valued at $618,501.95. This trade represents a 24.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,646 shares of company stock valued at $920,491 in the last quarter. 11.50% of the stock is currently owned by insiders.

Institutional Trading of Sagimet Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of Sagimet Biosciences by 82.6% during the 1st quarter. Renaissance Technologies LLC now owns 625,469 shares of the company’s stock worth $3,268,000 after acquiring an additional 282,969 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Sagimet Biosciences in the 2nd quarter worth $3,119,000. Dimensional Fund Advisors LP increased its stake in shares of Sagimet Biosciences by 99.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 271,217 shares of the company’s stock worth $1,415,000 after purchasing an additional 135,178 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Sagimet Biosciences in the 2nd quarter worth $1,551,000. Finally, AWM Investment Company Inc. bought a new position in Sagimet Biosciences in the 2nd quarter worth $618,000. 87.86% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Sagimet Biosciences

Here are the key news stories impacting Sagimet Biosciences this week:

• Positive Sentiment: HC Wainwright raised its Q4 2026 EPS estimate to a loss of $0.27 from a loss of $0.32, suggesting a better-than-previously-expected near-term earnings outlook. HC Wainwright Has Optimistic Opinion of SGMT FY2026 Earnings
• Positive Sentiment: The analyst also improved its loss estimates for FY2026, FY2027 and FY2028 to $1.31, $1.03 and $0.64 per share, respectively, from prior estimates of $1.48, $1.22 and $0.85. Smaller projected losses indicate improving profitability expectations. HC Wainwright Has Optimistic Opinion of SGMT FY2026 Earnings
• Positive Sentiment: HC Wainwright continues to forecast a transition to profitability, projecting positive EPS of $0.89 in FY2029, up from $0.81 previously. HC Wainwright Has Strong Forecast for SGMT FY2029 Earnings
• Neutral Sentiment: The analyst estimates Sagimet will remain unprofitable through FY2028, while the company’s current-year consensus loss is $1.17 per share. This highlights that the investment case still depends on successful future execution and commercialization.
• Negative Sentiment: HC Wainwright slightly reduced its FY2030 EPS forecast to $2.28 from $2.34. However, the estimate remains profitable and follows its increased FY2029 forecast, limiting the negative significance. HC Wainwright Has Strong Forecast for SGMT FY2029 Earnings

Sagimet Biosciences Company Profile

Sagimet Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target fatty acid synthase (FASN), an enzyme involved in the production of fatty acids. The company’s research is aimed at treating diseases associated with abnormal lipid metabolism and excess fat production.

Sagimet’s lead investigational product is denifanstat, an oral, selective FASN inhibitor formerly known as TVB-2640. The company is evaluating denifanstat primarily for metabolic dysfunction-associated steatohepatitis (MASH), a chronic liver disease that can involve inflammation, fat accumulation and fibrosis.