Barclays Forecasts Strong Price Appreciation for Sangamo Therapeutics (NASDAQ:SGMO) Stock

Sangamo Therapeutics (NASDAQ:SGMO) had its price objective increased by Barclays from $3.00 to $9.00 in a research note published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on SGMO. HC Wainwright increased their target price on Sangamo Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com initiated coverage on Sangamo Therapeutics in a research report on Sunday, July 28th. They set a “sell” rating for the company.

Sangamo Therapeutics Price Performance

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

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. The company had revenue of $49.41 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned ($0.34) earnings per share. On average, research analysts expect that Sangamo Therapeutics will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Sangamo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGMO. Acadian Asset Management LLC increased its position in shares of Sangamo Therapeutics by 4.0% in the first 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 Sangamo Therapeutics by 58.8% in the second quarter. Renaissance Technologies LLC now owns 4,126,577 shares of the biopharmaceutical company’s stock valued at $1,479,000 after purchasing an additional 1,528,600 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Sangamo Therapeutics by 14.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,138,309 shares of the biopharmaceutical company’s stock worth $1,853,000 after purchasing an additional 272,123 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sangamo Therapeutics by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,103,326 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 57,125 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Sangamo Therapeutics by 28.0% in the 3rd quarter. State Street Corp now owns 664,621 shares of the biopharmaceutical company’s stock valued at $576,000 after buying an additional 145,400 shares during the last quarter. 56.93% of the stock is owned by institutional investors.

About Sangamo Therapeutics

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.