Sangamo Therapeutics’ (SGMO) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) in a research report sent to investors on Friday. They currently have a $18.00 target price on the biopharmaceutical company’s stock.
Other equities analysts also recently issued research reports about the company. Wells Fargo & Company restated an outperform rating and issued a $30.00 price objective (up previously from $20.00) on shares of Sangamo Therapeutics in a report on Tuesday, September 5th. Zacks Investment Research downgraded Sangamo Therapeutics from a buy rating to a hold rating in a report on Tuesday, July 18th. ValuEngine upgraded Sangamo Therapeutics from a sell rating to a hold rating in a report on Thursday, June 15th. BidaskClub downgraded Sangamo Therapeutics from a buy rating to a hold rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $8.00 price objective on Sangamo Therapeutics and gave the stock a hold rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Sangamo Therapeutics has an average rating of Hold and a consensus target price of $14.40.
Shares of Sangamo Therapeutics (SGMO) opened at 14.95 on Friday. Sangamo Therapeutics has a 12-month low of $2.65 and a 12-month high of $17.06. The company has a 50-day moving average of $14.37 and a 200-day moving average of $9.22. The stock’s market capitalization is $1.25 billion.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $5.82 million. Sangamo Therapeutics had a negative net margin of 246.39% and a negative return on equity of 38.49%. The firm’s revenue was up 124.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.38) earnings per share. Equities analysts expect that Sangamo Therapeutics will post ($0.82) earnings per share for the current fiscal year.
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In related news, VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the vice president now owns 15,833 shares in the company, valued at $237,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Ringo sold 31,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $14.37, for a total value of $445,470.00. Following the completion of the transaction, the director now owns 31,800 shares in the company, valued at approximately $456,966. The disclosure for this sale can be found here. Insiders sold 72,474 shares of company stock worth $1,019,009 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Blair William & Co. IL grew its holdings in Sangamo Therapeutics by 4.3% during the second quarter. Blair William & Co. IL now owns 12,100 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 500 shares during the last quarter. Aperio Group LLC acquired a new position in Sangamo Therapeutics during the second quarter valued at approximately $108,000. Principal Financial Group Inc. grew its holdings in Sangamo Therapeutics by 6.8% during the second quarter. Principal Financial Group Inc. now owns 12,978 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 832 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Sangamo Therapeutics during the second quarter valued at approximately $124,000. Finally, Fox Run Management L.L.C. acquired a new position in Sangamo Therapeutics during the second quarter valued at approximately $126,000. Institutional investors own 63.43% of the company’s stock.
About Sangamo Therapeutics
Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
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