Brokerages Expect Sangamo Therapeutics, Inc. (SGMO) Will Announce Earnings of -$0.23 Per Share
Brokerages expect Sangamo Therapeutics, Inc. (NASDAQ:SGMO) to report earnings of ($0.23) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sangamo Therapeutics’ earnings. The lowest EPS estimate is ($0.33) and the highest is ($0.16). Sangamo Therapeutics reported earnings of ($0.27) per share during the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The company is scheduled to report its next earnings results on Wednesday, October 25th.
On average, analysts expect that Sangamo Therapeutics will report full-year earnings of ($0.96) per share for the current fiscal year, with EPS estimates ranging from ($1.34) to ($0.74). For the next year, analysts forecast that the company will post earnings of ($0.95) per share, with EPS estimates ranging from ($1.63) to ($0.02). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Sangamo Therapeutics.
Sangamo Therapeutics (NASDAQ:SGMO) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. Sangamo Therapeutics had a negative return on equity of 38.49% and a negative net margin of 246.39%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $5.82 million. During the same period in the previous year, the business earned ($0.38) EPS. The firm’s revenue for the quarter was up 124.3% on a year-over-year basis.
SGMO has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. ValuEngine upgraded shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price target on shares of Sangamo Therapeutics in a research report on Thursday, June 22nd. BidaskClub downgraded shares of Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies set a $8.00 price target on shares of Sangamo Therapeutics and gave the company a “hold” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Sangamo Therapeutics presently has an average rating of “Hold” and an average price target of $9.67.
Shares of Sangamo Therapeutics (NASDAQ:SGMO) traded down 5.36% during trading on Wednesday, hitting $10.60. The stock had a trading volume of 2,124,658 shares. The stock’s 50-day moving average is $9.25 and its 200-day moving average is $6.36. The stock’s market cap is $762.55 million. Sangamo Therapeutics has a 12-month low of $2.65 and a 12-month high of $12.05.
In other Sangamo Therapeutics news, VP Curt A. Herberts III sold 15,000 shares of the business’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $10.00, for a total value of $150,000.00. Following the transaction, the vice president now owns 35,517 shares in the company, valued at approximately $355,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Curt A. Herberts III sold 11,474 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $10.44, for a total transaction of $119,788.56. Following the completion of the transaction, the vice president now owns 23,991 shares in the company, valued at approximately $250,466.04. The disclosure for this sale can be found here. Insiders have sold a total of 28,474 shares of company stock worth $283,389 in the last 90 days. Company insiders own 8.10% of the company’s stock.
Several large investors have recently made changes to their positions in SGMO. Vanguard Group Inc. boosted its position in Sangamo Therapeutics by 8.4% in the first quarter. Vanguard Group Inc. now owns 3,087,650 shares of the biopharmaceutical company’s stock valued at $16,056,000 after buying an additional 239,544 shares during the period. Teachers Advisors LLC boosted its position in Sangamo Therapeutics by 9.8% in the first quarter. Teachers Advisors LLC now owns 180,858 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 16,130 shares during the period. United Services Automobile Association purchased a new position in Sangamo Therapeutics during the first quarter valued at approximately $1,394,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Sangamo Therapeutics during the first quarter valued at approximately $154,000. Finally, American International Group Inc. boosted its position in Sangamo Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 42,747 shares of the biopharmaceutical company’s stock valued at $222,000 after buying an additional 2,818 shares during the period. 57.97% of the stock is owned by institutional investors and hedge funds.
About Sangamo Therapeutics
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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