Sangamo Therapeutics, Inc. (SGMO) Earns Outperform Rating from Wells Fargo & Company
Wells Fargo & Company reaffirmed their outperform rating on shares of Sangamo Therapeutics, Inc. (NASDAQ:SGMO) in a research report released on Tuesday. The firm currently has a $30.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $20.00.
SGMO has been the subject of several other research reports. Zacks Investment Research downgraded Sangamo Therapeutics from a hold rating to a sell rating in a research report on Wednesday, May 10th. ValuEngine upgraded Sangamo Therapeutics from a sell rating to a hold rating in a research report on Thursday, June 15th. BidaskClub downgraded Sangamo Therapeutics from a buy rating to a hold rating in a research report on Friday, July 28th. Jefferies Group LLC restated a buy rating and set a $17.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, June 22nd. Finally, Piper Jaffray Companies set a $8.00 target price on Sangamo Therapeutics and gave the stock a hold rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $14.20.
Sangamo Therapeutics (NASDAQ SGMO) opened at 14.1309 on Tuesday. Sangamo Therapeutics has a 52 week low of $2.65 and a 52 week high of $15.05. The company’s 50-day moving average price is $10.38 and its 200-day moving average price is $7.22. The company’s market capitalization is $1.18 billion.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. The business had revenue of $8.30 million during the quarter, compared to the consensus estimate of $5.82 million. Sangamo Therapeutics had a negative return on equity of 38.49% and a negative net margin of 246.39%. Sangamo Therapeutics’s revenue was up 124.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.38) EPS. On average, equities analysts forecast that Sangamo Therapeutics will post ($0.82) EPS for the current fiscal year.
In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 15,000 shares of Sangamo Therapeutics stock in a transaction on Friday, July 14th. The stock was sold at an average price of $10.00, for a total value of $150,000.00. Following the completion of the transaction, the vice president now owns 35,517 shares in the company, valued at approximately $355,170. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Curt A. Herberts III sold 11,474 shares of Sangamo Therapeutics stock in a transaction on Monday, August 14th. The shares were sold at an average price of $10.44, for a total value of $119,788.56. Following the completion of the transaction, the vice president now owns 23,991 shares of the company’s stock, valued at approximately $250,466.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,474 shares of company stock valued at $494,789. Corporate insiders own 8.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SGMO. Teachers Advisors LLC raised its position in Sangamo Therapeutics by 4.9% in the 4th quarter. Teachers Advisors LLC now owns 164,728 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 7,693 shares during the last quarter. Wells Fargo & Company MN raised its position in Sangamo Therapeutics by 13.0% in the 1st quarter. Wells Fargo & Company MN now owns 295,770 shares of the biopharmaceutical company’s stock valued at $1,538,000 after purchasing an additional 34,128 shares during the last quarter. Bank of New York Mellon Corp raised its position in Sangamo Therapeutics by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 333,305 shares of the biopharmaceutical company’s stock valued at $1,732,000 after purchasing an additional 19,142 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in Sangamo Therapeutics in the 1st quarter valued at $578,000. Finally, American International Group Inc. raised its position in Sangamo Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 42,747 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 2,818 shares during the last quarter. Hedge funds and other institutional investors own 63.43% 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.
Receive News & Stock Ratings for Sangamo Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo Therapeutics Inc. and related stocks with our FREE daily email newsletter.