Barclays Issues Positive Forecast for Sangamo Therapeutics (NASDAQ:SGMO) Stock Price

Sangamo Therapeutics (NASDAQ:SGMO) had its target price hoisted by Barclays from $3.00 to $9.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also commented on the stock. HC Wainwright increased their price objective on shares of Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com assumed coverage on Sangamo Therapeutics in a research note on Sunday, July 28th. They issued a “sell” rating for the company.

Sangamo Therapeutics Trading Down 4.7 %

SGMO opened at $2.05 on Thursday. Sangamo Therapeutics has a 1 year low of $0.30 and a 1 year high of $3.18. The stock’s 50 day simple moving average is $1.33 and its 200-day simple moving average is $0.87. The stock has a market cap of $427.73 million, a PE ratio of -2.73 and a beta of 1.10.

Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to analyst estimates of $26.55 million. Sangamo Therapeutics had a negative net margin of 257.87% and a negative return on equity of 264.16%. During the same quarter last year, the business posted ($0.34) earnings per share. Equities analysts forecast that Sangamo Therapeutics will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its position in shares of Sangamo Therapeutics by 4.0% during the 1st quarter. Acadian Asset Management LLC now owns 4,943,260 shares of the biopharmaceutical company’s stock valued at $3,311,000 after acquiring an additional 192,385 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Sangamo Therapeutics by 58.8% during the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock worth $1,479,000 after purchasing an additional 1,528,600 shares during the period. Geode Capital Management LLC increased its holdings in Sangamo Therapeutics by 14.6% in the third quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock valued at $1,853,000 after purchasing an additional 272,123 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sangamo Therapeutics by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock valued at $956,000 after buying an additional 57,125 shares during the period. Finally, State Street Corp boosted its holdings in Sangamo Therapeutics by 28.0% during the third quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 145,400 shares during the last quarter. Institutional investors and hedge funds own 56.93% of the company’s stock.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc, a clinical-stage genomic medicine company, focuses on translating science into medicines that transform the lives of patients and families afflicted with serious diseases in the United States. The company's clinical-stage product candidates are ST-920, a gene therapy product candidate, which is in Phase 1/2 clinical study for the treatment of Fabry disease; TX200, a chimeric antigen receptor engineered regulatory T cell (CAR-Treg) therapy product candidate that is in Phase 1/2 clinical study for the prevention of immune-mediated rejection in HLA-A2 mismatched kidney transplantation; SB-525, a gene therapy product candidate, which is in Phase 3 clinical trial for the treatment of moderately severe to severe hemophilia A; BIVV003, a zinc finger nuclease gene-edited cell therapy product candidate that is in Phase 1/2 PRECIZN-1 clinical study for the treatment of sickle cell disease.