Sangamo Biosciences Given New $13.00 Price Target at Wedbush (SGMO)
Sangamo Biosciences (NASDAQ: SGMO) had its target price boosted by Wedbush from $10.00 to $13.00 in a research note issued to investors on Thursday. The firm currently has an outperform rating on the stock.
“Sangamo presented immunologic results supporting previous observations about the functionality and durability of SB-728-T modified T-cells at the 20th Conference on Retroviruses and Opportunistic Infections (CROI). … We are reiterating our OUTPERFORM rating and increasing our fair value to $13 from $10 due to HIV progress, error correction, and time value. By focusing on CCR5 heterozygotes, we increased our peak penetration and net peak annual worldwide revenues to Sangamo to about $656 million from about $500 million.,” the firm’s analyst commented.
A number of other firms have also recently commented on SGMO. Analysts at Lazard Capital Markets initiated coverage on shares of Sangamo Biosciences in a research note to investors on Thursday, February 28th. They set a buy rating and a $16.00 price target on the stock. Separately, analysts at Burrill Institutional Research initiated coverage on shares of Sangamo Biosciences in a research note to investors on Tuesday, February 19th. They set an outperform rating and a $28.00 price target on the stock. Finally, analysts at Piper Jaffray upgraded shares of Sangamo Biosciences from an underweight rating to an overweight rating in a research note to investors on Thursday, January 3rd.
Sangamo Biosciences traded down 1.14% on Thursday, hitting $9.53. Sangamo Biosciences has a 1-year low of $4.01 and a 1-year high of $11.24. The stock’s 50-day moving average is currently $9.38. The company’s market cap is $508.5 million.
Sangamo BioSciences, Inc. (Sangamo) is engaged in development and commercialization of transcription factors for gene regulation and gene modification.
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