H.C. Wainwright analyst Ed Arce initiated coverage of Sagimet Biosciences with a Buy rating and $32 price target. The analyst believes Denifanstat has the potential to emerge as a backbone therapy for metabolic dysfunction-associated steatohepatitis. Beyond MASH, Sagimet has de-risked pipeline programs in acne and oncology that offer meaningful upside potential, the analyst tells investors in a research note.
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