Sagimet Biosciences shares are trading higher after the company reported FY23 financial results. Also, Leerink Partners initiated coverage on the stock with an Outperform rating and announced a $26 price target.
Portfolio Pulse from Benzinga Newsdesk
Sagimet Biosciences shares surged following the announcement of its FY23 financial results. Additionally, Leerink Partners initiated coverage on Sagimet Biosciences with an Outperform rating and set a price target of $26.
March 25, 2024 | 4:06 pm
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Sagimet Biosciences shares are trading higher after the company reported positive FY23 financial results and received an Outperform rating from Leerink Partners with a $26 price target.
The positive FY23 financial results indicate a strong performance by Sagimet Biosciences, likely boosting investor confidence. Furthermore, the initiation of coverage by Leerink Partners with an Outperform rating and a $26 price target suggests a bullish outlook on the stock, potentially leading to increased investor interest and a short-term rise in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100