Sagimet Biosciences initiated with a Buy at JonesResearch

JonesResearch initiated coverage of Sagimet Biosciences (SGMT) with a Buy rating and $42 price target The firm says its bullish outlook is driven by denifanstat’s “overlooked potential” in metabolic dysfunction-associated steatohepatitis. A comparative analysis suggests that denifanstat has best-in-disease potential for fibrosis improvement as a GLP-1 combo, the analyst tells investors in a research note.