Sangamo BioSciences Inc. (SGMO) Upgraded to Hold by Zacks Investment Research
Sangamo BioSciences Inc. (NASDAQ:SGMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “
Other equities analysts have also issued research reports about the stock. Jefferies Group reissued a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. Piper Jaffray Cos. lowered shares of Sangamo BioSciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $5.00 in a report on Wednesday, October 19th. Cowen and Company reissued a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Wedbush lowered shares of Sangamo BioSciences from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $4.00 in a report on Tuesday, November 1st. Finally, Janney Montgomery Scott lowered shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $8.00 in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $9.40.
Sangamo BioSciences (NASDAQ:SGMO) opened at 3.25 on Wednesday. The company has a 50-day moving average of $3.84 and a 200 day moving average of $5.04. The firm’s market cap is $229.52 million. Sangamo BioSciences has a 12-month low of $3.10 and a 12-month high of $9.91.
Sangamo BioSciences (NASDAQ:SGMO) last issued its quarterly earnings results on Wednesday, October 26th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.02. The company earned $2.82 million during the quarter, compared to the consensus estimate of $4.24 million. Sangamo BioSciences had a negative return on equity of 45.02% and a negative net margin of 388.23%. Sangamo BioSciences’s quarterly revenue was down 67.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. Equities analysts expect that Sangamo BioSciences will post ($1.14) EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Princeton Alpha Management LP purchased a new stake in shares of Sangamo BioSciences during the second quarter worth about $164,000. Bourgeon Capital Management LLC raised its stake in shares of Sangamo BioSciences by 12.6% in the second quarter. Bourgeon Capital Management LLC now owns 49,000 shares of the biopharmaceutical company’s stock worth $284,000 after buying an additional 5,500 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Sangamo BioSciences by 140.8% in the second quarter. Nisa Investment Advisors LLC now owns 51,300 shares of the biopharmaceutical company’s stock worth $297,000 after buying an additional 30,000 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Sangamo BioSciences by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 264,847 shares of the biopharmaceutical company’s stock worth $1,534,000 after buying an additional 5,166 shares during the period. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Sangamo BioSciences during the second quarter worth about $163,000. 62.24% of the stock is currently owned by institutional investors and hedge funds.
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.
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