Sangamo BioSciences (SGMO) Bullish View Reiterated at BMO Capital Following Meetings with Management

BMO Capital analyst Jim Birchenough reiterated an Outperform rating and $19 price target on Sangamo BioSciences (NASDAQ: SGMO) following meeting with members of the SGMO management team late last week at the American Society of Gene and Cellular Therapy meeting following several oral session presentations providing updates to the company’s programs.

Birchenough commented, ". We believe the change in targeting strategy is a logical move justified by most up-to-date understanding of BCL11A biology and efficiency, with a consolidated approach to both beta-thal and SCD. We also believe the delay in IND filing could be partially offset by enhanced clinical start readiness. In addition, we are encouraged by additional ASGCT updates from other programs. In particular, preclinical study in the LSD program demonstrated successful cross-correction in secondary tissues by liver-secreted enzymes, and clinical scale production of PD-1 knockout TILs may attract partnership interest."

For an analyst ratings summary and ratings history on Sangamo BioSciences click here. For more ratings news on Sangamo BioSciences click here.

Shares of Sangamo BioSciences closed at $11.51 yesterday.

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