Sagimet Biosciences price target lowered to $31 from $32 at JMP Securities

JMP Securities analyst Jonathan Wolleben lowered the firm’s price target on Sagimet Biosciences (SGMT) to $31 from $32 and keeps an Outperform rating on the shares as part of a broader note on Biotechnology. The firm highlighted key upcoming catalysts for its coverage universe over the next 12 months, ahead of what is shaping up to be a “busy” 2025, and noted that it still has several events expected between now and the end of the year which could provide a reason for “cheer” this holiday season.