$9.42 Million in Sales Expected for Sangamo Therapeutics, Inc. (SGMO) This Quarter
Brokerages predict that Sangamo Therapeutics, Inc. (NASDAQ:SGMO) will announce $9.42 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Sangamo Therapeutics’ earnings, with the highest sales estimate coming in at $11.20 million and the lowest estimate coming in at $5.85 million. Sangamo Therapeutics reported sales of $2.82 million in the same quarter last year, which indicates a positive year-over-year growth rate of 234%. The business is expected to announce its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Sangamo Therapeutics will report full year sales of $9.42 million for the current fiscal year, with estimates ranging from $30.30 million to $36.40 million. For the next fiscal year, analysts expect that the company will post sales of $58.77 million per share, with estimates ranging from $16.30 million to $120.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Sangamo Therapeutics.
Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.82 million. During the same period in the prior year, the firm posted ($0.38) EPS. The company’s revenue for the quarter was up 124.3% on a year-over-year basis.
A number of analysts recently commented on the company. ValuEngine upgraded Sangamo Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Piper Jaffray Companies set a $8.00 target price on Sangamo Therapeutics and gave the stock a “hold” rating in a research report on Thursday, August 10th. BidaskClub downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, August 18th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price on shares of Sangamo Therapeutics in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.40.
In other news, Director William R. Ringo sold 31,000 shares of Sangamo Therapeutics stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $14.37, for a total value of $445,470.00. Following the completion of the transaction, the director now directly owns 31,800 shares in the company, valued at $456,966. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Curt A. Herberts III sold 15,000 shares of Sangamo Therapeutics stock in a transaction on Friday, September 1st. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the vice president now owns 15,833 shares of the company’s stock, valued at $237,495. The disclosure for this sale can be found here. Insiders sold 72,474 shares of company stock valued at $940,259 over the last three months. Company insiders own 8.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Blair William & Co. IL grew its position in shares of Sangamo Therapeutics by 4.3% in the second quarter. Blair William & Co. IL now owns 12,100 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 500 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Sangamo Therapeutics in the second quarter valued at $108,000. Principal Financial Group Inc. grew its position in shares of Sangamo Therapeutics by 6.8% in the second quarter. Principal Financial Group Inc. now owns 12,978 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 832 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Sangamo Therapeutics in the second quarter valued at $124,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Sangamo Therapeutics in the second quarter valued at $126,000. Institutional investors own 63.43% of the company’s stock.
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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