Sangamo BioSciences Inc. (SGMO) Downgraded to “Neutral” at Piper Jaffray Cos.
Sangamo BioSciences Inc. (NASDAQ:SGMO) was downgraded by analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.
Other equities research analysts also recently issued reports about the stock. Jefferies Group reiterated a “buy” rating on shares of Sangamo BioSciences in a report on Friday, August 5th. Zacks Investment Research downgraded shares of Sangamo BioSciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Cowen and Company reiterated a “buy” rating on shares of Sangamo BioSciences in a report on Wednesday, August 10th. Finally, Janney Montgomery Scott downgraded shares of Sangamo BioSciences from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $8.00 in a report on Thursday, August 4th. One research 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 company presently has an average rating of “Buy” and a consensus target price of $15.30.
Shares of Sangamo BioSciences (NASDAQ:SGMO) traded down 9.615% on Wednesday, reaching $3.525. The company’s stock had a trading volume of 469,103 shares. The company’s market cap is $248.93 million. Sangamo BioSciences has a 52-week low of $3.50 and a 52-week high of $9.91. The company has a 50 day moving average price of $4.51 and a 200 day moving average price of $5.60.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/sangamo-biosciences-inc-sgmo-downgraded-to-neutral-at-piper-jaffray-cos.html
Sangamo BioSciences (NASDAQ:SGMO) last posted its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.14. Sangamo BioSciences had a negative return on equity of 36.08% and a negative net margin of 261.81%. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $5.38 million. During the same quarter in the previous year, the business posted ($0.17) EPS. The company’s revenue for the quarter was down 56.0% on a year-over-year basis. On average, analysts anticipate that Sangamo BioSciences will post ($1.11) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of SGMO. BlackRock Fund Advisors raised its stake 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 valued at $15,711,000 after buying an additional 145,060 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $15,601,000 after buying an additional 234,286 shares during the period. Adage Capital Partners GP L.L.C. raised its stake 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 valued at $14,475,000 after buying an additional 650,000 shares during the period. Altrinsic Global Advisors LLC raised its stake 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 valued at $3,025,000 after buying an additional 10,000 shares during the period. Finally, Numeric Investors LLC raised its stake in Sangamo BioSciences by 329.2% in the second quarter. Numeric Investors LLC now owns 465,523 shares of the biopharmaceutical company’s stock valued at $2,695,000 after buying an additional 357,054 shares during the period. Institutional investors own 65.10% of the company’s stock.
Sangamo BioSciences Company Profile
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.
Receive News & Ratings for Sangamo BioSciences Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sangamo BioSciences Inc. and related companies with MarketBeat.com's FREE daily email newsletter.