Sangamo BioSciences Inc. (SGMO) Rating Lowered to Sell at Zacks Investment Research
Sangamo BioSciences Inc. (NASDAQ:SGMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Sangamo BioSciences, Inc. is a leader in the development of novel transcription factors for the regulation of gene expression. Transcription factors are proteins that turn genes on or off by recognizing specific DNA sequences. The Universal Gene Recognition technology platform enables the engineering of a class of transcription factors known as zinc finger DNA binding proteins. “
A number of other brokerages have also commented on SGMO. Jefferies Group restated a “buy” rating and issued a $14.00 target price on shares of Sangamo BioSciences in a research note on Thursday, June 9th. Janney Montgomery Scott lowered Sangamo BioSciences from a “buy” rating to a “neutral” rating and cut their target price for the company from $15.00 to $8.00 in a research note on Thursday, August 4th. Finally, Cowen and Company restated a “buy” rating on shares of Sangamo BioSciences in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Sangamo BioSciences has a consensus rating of “Buy” and a consensus price target of $15.30.
Sangamo BioSciences (NASDAQ:SGMO) traded up 1.27% during midday trading on Wednesday, reaching $4.80. 351,796 shares of the company traded hands. The company has a 50-day moving average price of $4.54 and a 200-day moving average price of $5.71. Sangamo BioSciences has a 12-month low of $4.08 and a 12-month high of $9.91. The company’s market cap is $338.97 million.
Sangamo BioSciences (NASDAQ:SGMO) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.24) by $0.14. Sangamo BioSciences had a negative net margin of 261.81% and a negative return on equity of 36.08%. The business earned $3.70 million during the quarter, compared to the consensus estimate of $5.38 million. During the same period in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue was down 56.0% compared to the same quarter last year. On average, analysts predict that Sangamo BioSciences will post ($1.11) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. bought a new position in Sangamo BioSciences during the first quarter valued at about $1,384,000. Spark Investment Management LLC bought a new position in Sangamo BioSciences during the first quarter valued at about $472,000. Altrinsic Global Advisors LLC raised its position in Sangamo BioSciences by 2.0% in the first quarter. Altrinsic Global Advisors LLC now owns 500,000 shares of the biopharmaceutical company’s stock valued at $3,025,000 after buying an additional 10,000 shares in the last quarter. Royce & Associates LP raised its position in Sangamo BioSciences by 46.1% in the first quarter. Royce & Associates LP now owns 456,100 shares of the biopharmaceutical company’s stock valued at $2,759,000 after buying an additional 144,000 shares in the last quarter. Finally, Wexford Capital LP bought a new position in Sangamo BioSciences during the first quarter valued at about $299,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.
About Sangamo BioSciences
Sangamo Biosciences Inc is a clinical-stage biopharmaceutical company. The Company is focused on research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. It is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics.
Receive News & Stock Ratings for Sangamo BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo BioSciences Inc. and related stocks with our FREE daily email newsletter.