Equities analysts expect Sangamo Therapeutics, Inc. (NASDAQ:SGMO) to report sales of $9.42 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sangamo Therapeutics’ earnings, with estimates ranging from $5.85 million to $11.20 million. Sangamo Therapeutics reported sales of $2.82 million in the same quarter last year, which would suggest a positive year over year growth rate of 234%. The company is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that Sangamo Therapeutics will report full-year sales of $9.42 million for the current fiscal year, with estimates ranging from $32.00 million to $36.40 million. For the next financial year, analysts forecast that the firm will report sales of $58.77 million per share, with estimates ranging from $16.30 million to $120.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Sangamo Therapeutics.
Sangamo Therapeutics (NASDAQ:SGMO) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $8.30 million for the quarter, compared to analyst estimates of $5.82 million. Sangamo Therapeutics had a negative net margin of 246.39% and a negative return on equity of 38.49%. Sangamo Therapeutics’s quarterly revenue was up 124.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) earnings per share.
A number of equities research analysts recently commented on the stock. Wedbush reissued a “neutral” rating and issued a $4.00 price objective (down from $6.00) on shares of Sangamo Therapeutics in a research note on Tuesday, May 16th. ValuEngine raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BidaskClub cut shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of Sangamo Therapeutics in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.67.
Sangamo Therapeutics (NASDAQ:SGMO) opened at 10.25 on Friday. Sangamo Therapeutics has a 52-week low of $2.65 and a 52-week high of $12.05. The firm’s market capitalization is $857.00 million. The company’s 50-day moving average is $9.29 and its 200-day moving average is $6.38.
In other news, VP Curt A. Herberts III sold 15,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. Following the transaction, the vice president now directly owns 35,517 shares in the company, valued at approximately $355,170. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Curt A. Herberts III sold 11,474 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $10.44, for a total transaction of $119,788.56. Following the transaction, the vice president now owns 23,991 shares in the company, valued at $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 over the last ninety days. 8.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Sangamo Therapeutics during the fourth quarter valued at approximately $179,000. Metropolitan Life Insurance Co. NY raised its position in Sangamo Therapeutics by 1.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 49,713 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 780 shares during the last quarter. Teachers Advisors LLC raised its position in Sangamo Therapeutics by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 164,728 shares of the biopharmaceutical company’s stock valued at $502,000 after buying an additional 7,693 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in Sangamo Therapeutics by 35.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 270,000 shares of the biopharmaceutical company’s stock valued at $1,404,000 after buying an additional 70,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Sangamo Therapeutics by 13.0% in the first quarter. Wells Fargo & Company MN now owns 295,770 shares of the biopharmaceutical company’s stock valued at $1,538,000 after buying an additional 34,128 shares during the last quarter. Hedge funds and other institutional investors own 57.97% of the company’s stock.
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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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