JMP Securities analyst Jonathan Wolleben lowered the firm’s price target on Sagimet Biosciences to $46 from $47 and keeps an Outperform rating on the shares. Tirzepatide hit on NASH resolution in its Phase 2 trial, while the GLP/GIP agonist appears to have missed on fibrosis, the analyst tells investors. There “remains a major disconnect” between Sagimet’s valuation and the denifanstat Phase 2 data, derisked Phase 3 program and commercial opportunity, the analyst argues.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SGMT:
- Sagimet Biosciences Announces Interim CFO Appointment
- Sagimet Biosciences Public Offering Raises $112.5 Million
- Sagimet Biosciences 9M share Secondary priced at $12.50
- Sagimet Biosciences Announces Pricing of Public Offering of Series A Common Stock
- Sagimet Biosciences Announces Proposed Public Offering of Series A Common Stock
