$6.79 Million in Sales Expected for Sangamo BioSciences, Inc. (SGMO) This Quarter
Wall Street analysts forecast that Sangamo BioSciences, Inc. (NASDAQ:SGMO) will announce sales of $6.79 million for the current quarter, Zacks reports. Three analysts have provided estimates for Sangamo BioSciences’ earnings. The highest sales estimate is $10.40 million and the lowest is $4.10 million. Sangamo BioSciences posted sales of $3.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 83.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Sangamo BioSciences will report full year sales of $6.79 million for the current financial year, with estimates ranging from $18.00 million to $85.60 million. For the next financial year, analysts expect that the business will post sales of $47.51 million per share, with estimates ranging from $16.33 million to $87.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Sangamo BioSciences.
Sangamo BioSciences (NASDAQ:SGMO) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.03. Sangamo BioSciences had a negative return on equity of 50.76% and a negative net margin of 380.44%. The company had revenue of $3.40 million during the quarter, compared to analysts’ expectations of $4.14 million. During the same period last year, the firm posted ($0.23) earnings per share. The business’s revenue was down 12.8% on a year-over-year basis.
Several equities research analysts have issued reports on SGMO shares. Zacks Investment Research downgraded Sangamo BioSciences from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Cowen and Company restated a “buy” rating on shares of Sangamo BioSciences in a research report on Wednesday, March 22nd. ValuEngine upgraded Sangamo BioSciences from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $17.00 target price on shares of Sangamo BioSciences in a research report on Thursday, June 22nd. Finally, Wedbush restated a “neutral” rating and set a $4.00 target price (down previously from $6.00) on shares of Sangamo BioSciences in a research report on Tuesday, May 16th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Sangamo BioSciences has a consensus rating of “Hold” and an average target price of $8.50.
Several large investors have recently modified their holdings of the company. HighTower Advisors LLC increased its stake in shares of Sangamo BioSciences by 0.3% in the first quarter. HighTower Advisors LLC now owns 39,405 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 100 shares during the period. Iguana Healthcare Management LLC acquired a new stake in shares of Sangamo BioSciences during the first quarter worth about $780,000. Highbridge Capital Management LLC acquired a new stake in shares of Sangamo BioSciences during the first quarter worth about $496,000. Granahan Investment Management Inc. MA increased its stake in shares of Sangamo BioSciences by 333.3% in the first quarter. Granahan Investment Management Inc. MA now owns 1,032,859 shares of the biopharmaceutical company’s stock worth $5,371,000 after buying an additional 794,508 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Sangamo BioSciences by 49.9% in the first quarter. Bank of America Corp DE now owns 32,625 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 10,861 shares during the period. Institutional investors own 59.23% of the company’s stock.
Sangamo BioSciences (NASDAQ SGMO) traded down 0.282% during mid-day trading on Friday, hitting $8.825. The stock had a trading volume of 171,824 shares. The firm’s 50-day moving average price is $7.82 and its 200-day moving average price is $4.99. Sangamo BioSciences has a 1-year low of $2.65 and a 1-year high of $9.65. The stock’s market cap is $634.86 million.
Sangamo BioSciences Company Profile
Sangamo Therapeutics, Inc, formerly Sangamo BioSciences, Inc, is a clinical-stage biotechnology company. The Company is focused on translating science into genomic therapies that transform patients’ lives using the Company’s platform technologies in genome editing, gene therapy, gene regulation and cell therapy.
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