Sagimet Maintained at Buy as Strong Cash Runway and Advancing Acne Franchise Support Unchanged $28 Price Target
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Yun Zhong from Wedbush has maintained a Buy rating on Sagimet Biosciences, Inc. with a price target of $28. The rating is supported by the company's strong cash position, extending its runway through 2028, and positive data from denifanstat's studies. The upcoming Phase 3 acne trial and new product developments are expected to enhance commercial opportunities, indicating potential upside for SGMT shares. Canaccord Genuity also reaffirmed a Buy rating with a higher price target of $49.
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