Sagimet Biosciences, Inc. Class A (SGMT) has received a new Buy rating, initiated by TD Cowen analyst, Ritu Baral.
Ritu Baral has given her Buy rating due to a combination of factors that highlight Sagimet Biosciences’ promising future prospects. The initiation of the Phase 3 MASH trials for their FASN inhibitor, denifanstat, is a significant milestone. These trials are designed to evaluate the drug’s efficacy and safety in patients with F2/F3 MASH, with important histological and clinical endpoints that could lead to accelerated approval.
Additionally, the company’s strong financial position, with $158.7 million in cash, is expected to support operational expenses through 2025, providing a solid runway for ongoing and future trials. The strategic design of the trials, including the stratification of patients and adaptive randomization, enhances the potential for successful outcomes. These elements, combined with the potential for denifanstat to address unmet medical needs, underpin Baral’s positive outlook and Buy rating for Sagimet Biosciences.
According to TipRanks, Baral is a 4-star analyst with an average return of 7.8% and a 44.89% success rate. Baral covers the Healthcare sector, focusing on stocks such as Insmed, Alnylam Pharma, and Sarepta Therapeutics.
In another report released on March 12, JMP Securities also reiterated a Buy rating on the stock with a $31.00 price target.
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