SunTrust Banks Initiates Coverage on Sangamo Therapeutics (NASDAQ:SGMO)

SunTrust Banks began coverage on shares of Sangamo Therapeutics (NASDAQ:SGMO) in a research report report published on Tuesday morning, BenzingaRatingsTable reports. The firm issued a buy rating on the biopharmaceutical company’s stock. SunTrust Banks also issued estimates for Sangamo Therapeutics’ Q2 2020 earnings at ($0.30) EPS, Q3 2020 earnings at ($0.31) EPS, Q4 2020 earnings at ($0.34) EPS, FY2020 earnings at ($1.31) EPS, FY2021 earnings at ($0.68) EPS, FY2022 earnings at $0.22 EPS, FY2023 earnings at $1.01 EPS and FY2024 earnings at $0.45 EPS.

A number of other research analysts have also recently issued reports on the company. ValuEngine cut Sangamo Therapeutics from a buy rating to a hold rating in a research note on Monday, June 1st. HC Wainwright decreased their price objective on Sangamo Therapeutics from $16.00 to $14.00 and set a buy rating for the company in a research report on Monday, June 22nd. BidaskClub downgraded shares of Sangamo Therapeutics from a hold rating to a sell rating in a report on Wednesday, July 1st. Wedbush reiterated a hold rating and issued a $11.00 price target on shares of Sangamo Therapeutics in a report on Friday, June 19th. Finally, Zacks Investment Research downgraded shares of Sangamo Therapeutics from a hold rating to a sell rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Sangamo Therapeutics has a consensus rating of Hold and a consensus target price of $11.50.

Sangamo Therapeutics stock opened at $10.69 on Tuesday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -12.88 and a beta of 2.22. The company’s 50 day simple moving average is $10.42 and its 200 day simple moving average is $8.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.98 and a quick ratio of 5.98. Sangamo Therapeutics has a fifty-two week low of $4.81 and a fifty-two week high of $12.49.

Sangamo Therapeutics (NASDAQ:SGMO) last announced its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.14). Sangamo Therapeutics had a negative return on equity of 22.68% and a negative net margin of 89.31%. The firm had revenue of $13.10 million for the quarter, compared to the consensus estimate of $22.73 million. During the same period in the prior year, the business earned ($0.41) earnings per share. The company’s revenue for the quarter was up 61.7% compared to the same quarter last year. As a group, analysts predict that Sangamo Therapeutics will post -0.39 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can bought a new position in shares of Sangamo Therapeutics during the 4th quarter worth approximately $65,000. Cannell Peter B & Co. Inc. bought a new position in Sangamo Therapeutics in the first quarter valued at $65,000. Bedel Financial Consulting Inc. grew its position in Sangamo Therapeutics by 1,538.5% in the first quarter. Bedel Financial Consulting Inc. now owns 10,650 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 10,000 shares in the last quarter. Norges Bank acquired a new stake in Sangamo Therapeutics in the 4th quarter valued at $84,000. Finally, AlphaCrest Capital Management LLC bought a new stake in Sangamo Therapeutics during the 4th quarter worth about $85,000. 52.92% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc focuses on translating science into genomic medicines that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger proteins (ZFPs) could be engineered to make zinc finger nucleases (ZFNs), proteins that could be used to modify DNA sequences by adding or knocking out specific genes or genome editing; and ZFP transcription factors (ZFP TFs) proteins that can be used to increase or decrease gene expression or gene regulation.

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