Sagimet Biosciences (NASDAQ:SGMT) Price Target Raised to $38.00

Posted by George Bondi on Oct 4th, 2026

Sagimet Biosciences (NASDAQ:SGMT – Free Report) had its price objective raised by Oppenheimer from $33.00 to $38.00 in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

SGMT has been the subject of a number of other reports. Cantor Fitzgerald started coverage on Sagimet Biosciences in a report on Wednesday, September 9th. They set an “overweight” rating and a $10.71 price target for the company. Canaccord Genuity Group increased their price objective on Sagimet Biosciences from $49.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Barclays raised Sagimet Biosciences from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $18.00 in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sagimet Biosciences in a report on Friday, July 17th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Sagimet Biosciences in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

View Our Latest Report on SGMT

Sagimet Biosciences Trading Down 2.5%

Sagimet Biosciences stock opened at $9.14 on Thursday. The company has a fifty day simple moving average of $9.82 and a 200-day simple moving average of $7.76. The stock has a market cap of $568.14 million, a P/E ratio of -7.14 and a beta of 3.46. Sagimet Biosciences has a 12-month low of $4.50 and a 12-month high of $11.45.

Sagimet Biosciences (NASDAQ:SGMT – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). As a group, sell-side analysts forecast that Sagimet Biosciences will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director George Kemble sold 20,206 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.95, for a total transaction of $201,049.70. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Happel sold 64,051 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $7.76, for a total value of $497,035.76. Following the completion of the transaction, the chief executive officer owned 741,570 shares in the company, valued at $5,754,583.20. This trade represents a 7.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 113,646 shares of company stock valued at $920,491 over the last quarter. 11.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. lifted its position in Sagimet Biosciences by 19.8% in the second quarter. Baird Financial Group Inc. now owns 15,677 shares of the company’s stock valued at $121,000 after purchasing an additional 2,591 shares during the period. Seven Fleet Capital Management LP acquired a new position in Sagimet Biosciences during the 2nd quarter worth approximately $3,119,000. Wellington Management Group LLP acquired a new position in Sagimet Biosciences during the 2nd quarter worth approximately $315,000. AWM Investment Company Inc. purchased a new position in shares of Sagimet Biosciences during the 2nd quarter worth approximately $618,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sagimet Biosciences during the 2nd quarter worth approximately $1,551,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Sagimet Biosciences News Roundup

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

Positive Sentiment: Sagimet completed an underwritten offering that raised approximately $115 million, providing funding for its clinical-development programs. The company sold 8,750,010 Series A common shares at $10.00 each, while certain investors received pre-funded warrants for an additional 2,750,010 shares. Sagimet offering announcement
Positive Sentiment: Analysts remain bullish on Sagimet’s prospects following positive 52-week Phase 3 data for denifanstat in moderate-to-severe acne and the company’s plans for a U.S. Phase 3 program. Oppenheimer raised its price target to $38 from $33 and maintained an “outperform” rating. Sagimet Phase 3 discussion Oppenheimer price target
Neutral Sentiment: Citizens lowered its price target to $27 from $29 but retained a “market outperform” rating. The reduction was attributed to dilution from the concurrent financing rather than a change in the company’s clinical outlook. Citizens price target
Negative Sentiment: The financing substantially increases Sagimet’s share count and creates potential future dilution from the pre-funded warrants. Investors also appeared to take profits after the initial rally tied to the acne data, making the offering a near-term pressure on SGMT despite the company’s improved cash resources. Sagimet financing closing

About Sagimet Biosciences

(Get Free Report)

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.