Goldman Sachs Maintains Neutral on Sagimet Biosciences, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Andrea Tan maintains a Neutral rating on Sagimet Biosciences (NASDAQ:SGMT) and lowers the price target from $23 to $6.

July 01, 2024 | 2:13 pm
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NEGATIVE IMPACT
Goldman Sachs has maintained a Neutral rating on Sagimet Biosciences but significantly lowered the price target from $23 to $6, indicating a less optimistic outlook.
The significant reduction in the price target from $23 to $6 by a major financial institution like Goldman Sachs suggests a less favorable outlook for Sagimet Biosciences. This is likely to negatively impact the stock price in the short term as investors react to the lowered expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100