Sangamo Therapeutics, Inc. to Post FY2017 Earnings of ($0.65) Per Share, Wedbush Forecasts (SGMO)

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) – Research analysts at Wedbush increased their FY2017 EPS estimates for Sangamo Therapeutics in a report issued on Wednesday, Zacks Investment Research reports. Wedbush analyst L. Moussatos now anticipates that the biopharmaceutical company will earn ($0.65) per share for the year, up from their prior estimate of ($0.86). Wedbush currently has a “Hold” rating and a $6.00 target price on the stock. Wedbush also issued estimates for Sangamo Therapeutics’ Q4 2017 earnings at ($0.11) EPS, Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.82) EPS, FY2019 earnings at ($1.09) EPS, FY2020 earnings at ($1.13) EPS and FY2021 earnings at ($1.17) EPS.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. The company had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $10.37 million. Sangamo Therapeutics had a negative return on equity of 31.81% and a negative net margin of 157.66%. The firm’s revenue for the quarter was up 333.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.27) earnings per share.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note 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 note on Thursday, August 10th. Barclays assumed coverage on Sangamo Therapeutics in a research note on Wednesday, November 22nd. They issued an “overweight” rating and a $20.00 target price on the stock. Zacks Investment Research raised Sangamo Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, August 18th. Finally, Jefferies Group reissued a “buy” rating and issued a $18.00 target price on shares of Sangamo Therapeutics in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Sangamo Therapeutics has an average rating of “Buy” and a consensus target price of $17.83.

Shares of Sangamo Therapeutics (NASDAQ:SGMO) traded down $0.10 during mid-day trading on Monday, reaching $16.35. The company had a trading volume of 1,735,124 shares, compared to its average volume of 1,314,902. Sangamo Therapeutics has a 12 month low of $2.65 and a 12 month high of $18.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.64 and a current ratio of 5.64.

A number of hedge funds have recently bought and sold shares of SGMO. RA Capital Management LLC bought a new position in Sangamo Therapeutics in the second quarter valued at about $11,000,000. State Street Corp lifted its holdings in Sangamo Therapeutics by 51.6% in the second quarter. State Street Corp now owns 1,868,285 shares of the biopharmaceutical company’s stock valued at $16,441,000 after acquiring an additional 636,296 shares during the period. Vanguard Group Inc. lifted its holdings in Sangamo Therapeutics by 12.4% in the second quarter. Vanguard Group Inc. now owns 3,471,681 shares of the biopharmaceutical company’s stock valued at $30,551,000 after acquiring an additional 384,031 shares during the period. Balyasny Asset Management LLC bought a new position in Sangamo Therapeutics in the second quarter valued at about $3,095,000. Finally, American Century Companies Inc. bought a new position in Sangamo Therapeutics in the third quarter valued at about $5,145,000. 64.35% of the stock is currently owned by institutional investors.

In related news, Director William R. Ringo sold 31,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $14.37, for a total transaction of $445,470.00. Following the sale, the director now directly owns 31,800 shares of the company’s stock, valued at $456,966. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $15.25, for a total value of $228,750.00. The disclosure for this sale can be found here. Insiders have sold 67,630 shares of company stock worth $1,015,812 over the last ninety days. 5.50% of the stock is currently owned by insiders.

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Sangamo Therapeutics 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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Earnings History and Estimates for Sangamo Therapeutics (NASDAQ:SGMO)

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