Wedbush Downgrades Sangamo BioSciences (SGMO) to Neutral
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Wedbush downgraded Sangamo BioSciences (NASDAQ: SGMO) from Outperform to Neutral with a price target of $4.00.
Analyst Liana Moussatos commented, "While we believe Sangamo's new management has positively reorganized the company for the longer term with clear goals and reliable success, the pipeline overhaul has created a gap and lack of material clinical catalysts for the Street until 2018. Consequently, we are downgrading to Neutral and view SGMO as appropriate for investors with a longer-term horizon."
Shares of Sangamo BioSciences closed at $3.55 yesterday.
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