BUZZ-JonesTrading starts coverage on drug developer Sagimet with 'buy' rating
ReutersJan 27, 2025 1:55 PM
JonesTrading starts coverage on drug developer Sagimet Biosciences SGMT.O with "buy" rating, sets PT at $42
PT represents 900% upside to stock's last close
Brokerage says co's experimental drug, denifanstat, is "overlooked potential" in treating metabolic dysfunction-associated steatohepatitis (MASH)
MASH is a severe liver disease caused by fat buildup, leading to inflammation and damage
JonesTrading notes denifanstat has " best-in-disease potential for fibrosis improvement as GLP-1 combo" with "well-derisked lead asset" in expanding market
Brokerage says it estimates peak sales of $1.6 bln for denifanstat in 2034
SGMT fell 15.6% in 2024
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