Brokerages Expect Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Will Post Quarterly Sales of $23.27 Million

Equities analysts forecast that Sangamo Therapeutics, Inc. (NASDAQ:SGMOGet Rating) will announce $23.27 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Sangamo Therapeutics’ earnings, with the lowest sales estimate coming in at $17.00 million and the highest estimate coming in at $28.50 million. Sangamo Therapeutics posted sales of $27.87 million during the same quarter last year, which would indicate a negative year over year growth rate of 16.5%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Sangamo Therapeutics will report full-year sales of $98.95 million for the current financial year, with estimates ranging from $80.00 million to $113.70 million. For the next fiscal year, analysts expect that the company will report sales of $120.44 million, with estimates ranging from $30.00 million to $250.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sangamo Therapeutics.

Sangamo Therapeutics (NASDAQ:SGMOGet Rating) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. The company had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $27.29 million. Sangamo Therapeutics had a negative net margin of 156.53% and a negative return on equity of 45.17%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.32) earnings per share.

Several brokerages recently issued reports on SGMO. Zacks Investment Research cut shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 7th. Wedbush restated a “neutral” rating on shares of Sangamo Therapeutics in a research report on Friday, May 6th. StockNews.com raised shares of Sangamo Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. Finally, Truist Financial cut their target price on shares of Sangamo Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sangamo Therapeutics has a consensus rating of “Hold” and an average price target of $13.50.

Sangamo Therapeutics stock opened at $4.13 on Friday. The firm has a market capitalization of $605.82 million, a P/E ratio of -3.39 and a beta of 1.63. The company’s 50-day moving average is $4.46 and its 200 day moving average is $5.89. Sangamo Therapeutics has a 1-year low of $3.38 and a 1-year high of $12.83.

In related news, Director John Markels bought 6,784 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were purchased at an average price of $3.69 per share, with a total value of $25,032.96. Following the completion of the purchase, the director now owns 32,484 shares of the company’s stock, valued at approximately $119,865.96. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in Sangamo Therapeutics by 2.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 69,900 shares of the biopharmaceutical company’s stock worth $548,000 after acquiring an additional 2,000 shares during the last quarter. Lombard Odier Asset Management Switzerland SA boosted its position in shares of Sangamo Therapeutics by 9.2% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 1,539,994 shares of the biopharmaceutical company’s stock valued at $11,550,000 after purchasing an additional 130,258 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Sangamo Therapeutics during the 4th quarter valued at about $2,587,000. Corton Capital Inc. acquired a new position in Sangamo Therapeutics during the 4th quarter worth approximately $281,000. Finally, Rafferty Asset Management LLC raised its stake in Sangamo Therapeutics by 89.1% during the 4th quarter. Rafferty Asset Management LLC now owns 376,577 shares of the biopharmaceutical company’s stock worth $2,824,000 after buying an additional 177,395 shares during the period. 52.40% of the stock is owned by hedge funds and other institutional investors.

Sangamo Therapeutics Company Profile (Get Rating)

Sangamo Therapeutics, Inc, a clinical-stage biotechnology company, focuses on translating science into genomic medicines that transform patients' lives using platform technologies in gene therapy, cell therapy, genome editing, and genome regulation. The company offers zinc finger protein (ZFP), a technology platform for making zinc finger nucleases, which are proteins used in modifying DNA sequences by adding or knocking out specific genes; and ZFP transcription factors proteins used in increasing or decreasing gene expression.

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