BidaskClub Upgrades Sangamo Therapeutics (SGMO) to “Buy”

BidaskClub upgraded shares of Sangamo Therapeutics (NASDAQ:SGMO) from a hold rating to a buy rating in a report issued on Tuesday.

A number of other brokerages also recently issued reports on SGMO. Zacks Investment Research raised shares of Sangamo Therapeutics from a sell rating to a hold rating in a report on Tuesday, August 14th. Wedbush reissued a hold rating and set a $10.00 price target on shares of Sangamo Therapeutics in a report on Thursday, August 9th. ValuEngine downgraded shares of Sangamo Therapeutics from a strong-buy rating to a buy rating in a report on Thursday, September 6th. Cowen reissued a buy rating on shares of Sangamo Therapeutics in a report on Monday, July 23rd. Finally, Guggenheim started coverage on shares of Sangamo Therapeutics in a research report on Tuesday, October 9th. They set a buy rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Sangamo Therapeutics currently has a consensus rating of Buy and an average price target of $21.00.

NASDAQ SGMO traded down $2.43 during mid-day trading on Tuesday, reaching $11.19. 191,033 shares of the stock were exchanged, compared to its average volume of 1,609,804. Sangamo Therapeutics has a 1 year low of $11.65 and a 1 year high of $27.50. The company has a market capitalization of $1.41 billion, a PE ratio of -16.06 and a beta of 3.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.24 and a current ratio of 7.24.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.02. Sangamo Therapeutics had a negative net margin of 105.65% and a negative return on equity of 26.36%. The firm had revenue of $23.56 million for the quarter, compared to the consensus estimate of $26.96 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The firm’s quarterly revenue was up 99.5% compared to the same quarter last year. On average, equities analysts expect that Sangamo Therapeutics will post -0.69 EPS for the current year.

In other Sangamo Therapeutics news, VP Edward R. Conner sold 5,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $14.17, for a total transaction of $70,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H Stewart Parker acquired 2,000 shares of Sangamo Therapeutics stock in a transaction on Friday, September 7th. The shares were bought at an average price of $13.52 per share, with a total value of $27,040.00. The disclosure for this purchase can be found here. Insiders have sold 30,000 shares of company stock valued at $432,350 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Sangamo Therapeutics by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 454,735 shares of the biopharmaceutical company’s stock worth $7,708,000 after acquiring an additional 7,472 shares during the period. Swiss National Bank raised its position in Sangamo Therapeutics by 2.3% during the third quarter. Swiss National Bank now owns 177,060 shares of the biopharmaceutical company’s stock worth $3,001,000 after acquiring an additional 3,900 shares during the period. Wasatch Advisors Inc. raised its position in Sangamo Therapeutics by 12.0% during the third quarter. Wasatch Advisors Inc. now owns 4,544,596 shares of the biopharmaceutical company’s stock worth $77,031,000 after acquiring an additional 486,429 shares during the period. JPMorgan Chase & Co. raised its position in shares of Sangamo Therapeutics by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 105,711 shares of the biopharmaceutical company’s stock valued at $1,792,000 after buying an additional 7,817 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Sangamo Therapeutics in the third quarter valued at about $242,000. Institutional investors own 64.01% of the company’s stock.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc focuses on translating science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

Featured Article: Why do corrections happen?

Analyst Recommendations for Sangamo Therapeutics (NASDAQ:SGMO)

Receive News & Ratings for Sangamo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply