Sangamo Therapeutics Inc (SGMO) Expected to Post Quarterly Sales of $4.49 Million
Equities research analysts predict that Sangamo Therapeutics Inc (NASDAQ:SGMO) will announce $4.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sangamo Therapeutics’ earnings. The highest sales estimate is $5.88 million and the lowest is $3.5 million. Sangamo Therapeutics reported sales of $3.7 million during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The firm is scheduled to report its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Sangamo Therapeutics will report full year sales of $4.49 million for the current fiscal year, with estimates ranging from $15.9 million to $85.6 million. For the next year, analysts anticipate that the firm will post sales of $24.01 million per share, with estimates ranging from $16.33 million to $39 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Sangamo Therapeutics.
Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Sangamo Therapeutics had a negative return on equity of 45.02% and a negative net margin of 388.23%. The firm had revenue of $3.40 million for the quarter, compared to analyst estimates of $4.14 million. During the same period in the prior year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and issued a $4.00 target price on shares of Sangamo Therapeutics in a research note on Wednesday, February 8th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Sangamo Therapeutics in a research report on Tuesday, February 28th. Cowen and Company restated a “buy” rating on shares of Sangamo Therapeutics in a research report on Tuesday, February 28th. Finally, Zacks Investment Research lowered Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $7.75.
Shares of Sangamo Therapeutics (NASDAQ:SGMO) traded down 0.63% on Wednesday, reaching $7.90. The company’s stock had a trading volume of 244,592 shares. The firm’s 50 day moving average is $5.10 and its 200-day moving average is $4.10. Sangamo Therapeutics has a 52-week low of $2.65 and a 52-week high of $8.60. The stock’s market cap is $568.32 million.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Sangamo Therapeutics by 9.0% in the third quarter. Wells Fargo & Company MN now owns 292,636 shares of the biopharmaceutical company’s stock valued at $1,354,000 after buying an additional 24,161 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of Sangamo Therapeutics by 0.5% in the third quarter. BlackRock Advisors LLC now owns 215,072 shares of the biopharmaceutical company’s stock valued at $996,000 after buying an additional 1,001 shares in the last quarter. Columbus Circle Investors boosted its stake in shares of Sangamo Therapeutics by 76.0% in the third quarter. Columbus Circle Investors now owns 516,497 shares of the biopharmaceutical company’s stock valued at $2,391,000 after buying an additional 223,014 shares in the last quarter. Altrinsic Global Advisors LLC boosted its stake in shares of Sangamo Therapeutics by 26.0% in the third quarter. Altrinsic Global Advisors LLC now owns 630,000 shares of the biopharmaceutical company’s stock valued at $2,917,000 after buying an additional 130,000 shares in the last quarter. Finally, Piermont Capital Management Inc. boosted its stake in shares of Sangamo Therapeutics by 9.4% in the third quarter. Piermont Capital Management Inc. now owns 169,079 shares of the biopharmaceutical company’s stock valued at $783,000 after buying an additional 14,460 shares in the last quarter. Hedge funds and other institutional investors own 61.87% of the company’s stock.
Sangamo Therapeutics Company Profile
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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