Piper Jaffray Cos. Downgrades Sangamo BioSciences Inc. (SGMO) to Neutral
Sangamo BioSciences Inc. (NASDAQ:SGMO) was downgraded by equities researchers at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.
SGMO has been the subject of several other reports. Zacks Investment Research cut shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Janney Montgomery Scott cut shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $8.00 in a research report on Thursday, August 4th. Cowen and Company restated a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Finally, Jefferies Group restated a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.30.
Sangamo BioSciences (NASDAQ:SGMO) traded down 9.615% during midday trading on Wednesday, reaching $3.525. 469,101 shares of the company traded hands. The stock’s market capitalization is $248.93 million. The company has a 50 day moving average of $4.51 and a 200-day moving average of $5.60. Sangamo BioSciences has a 12-month low of $3.50 and a 12-month high of $9.91.
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Sangamo BioSciences (NASDAQ:SGMO) last announced its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.14. Sangamo BioSciences had a negative net margin of 261.81% and a negative return on equity of 36.08%. The business earned $3.70 million during the quarter, compared to analyst estimates of $5.38 million. During the same quarter last year, the company posted ($0.17) earnings per share. The company’s revenue was down 56.0% compared to the same quarter last year. Equities analysts anticipate that Sangamo BioSciences will post ($1.11) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Sangamo BioSciences by 5.6% in the second quarter. BlackRock Fund Advisors now owns 2,713,404 shares of the biopharmaceutical company’s stock worth $15,711,000 after buying an additional 145,060 shares during the last quarter. Vanguard Group Inc. raised its position in Sangamo BioSciences by 9.5% in the second quarter. Vanguard Group Inc. now owns 2,694,393 shares of the biopharmaceutical company’s stock worth $15,601,000 after buying an additional 234,286 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Sangamo BioSciences by 35.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $14,475,000 after buying an additional 650,000 shares during the last quarter. Altrinsic Global Advisors LLC raised its position in Sangamo BioSciences by 2.0% in the first quarter. Altrinsic Global Advisors LLC now owns 500,000 shares of the biopharmaceutical company’s stock worth $3,025,000 after buying an additional 10,000 shares during the last quarter. Finally, Numeric Investors LLC raised its position in Sangamo BioSciences by 329.2% in the second quarter. Numeric Investors LLC now owns 465,523 shares of the biopharmaceutical company’s stock worth $2,695,000 after buying an additional 357,054 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.
About Sangamo BioSciences
Sangamo Biosciences Inc is a clinical-stage biopharmaceutical company. The Company is focused on research, development and commercialization of engineered deoxyribonucleic acid (DNA)-binding proteins for therapeutic genome editing and gene regulation. It is engaged in developing zinc finger DNA-binding proteins (ZFP) therapeutics.
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