UPDATE: Sangamo BioSciences (SGMO) PT Lowered to $29 but Wells Fargo Sees Significant Upside Potential

March 3, 2021 6:08 AM EST
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Price: $11.09 +0.64%

Rating Summary:
    11 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 16 | New: 47
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(Updated - March 3, 2021 6:17 AM EST)

Wells Fargo analyst Jim Birchenough lowered the price target on Sangamo BioSciences (NASDAQ: SGMO) to $29.00 (from $36.00) following review of last week's 4Q20 earnings report where the company reported a net loss per share was -$0.29 vs. -$0.21 consensus.

The analyst reiterated the Overweight rating, stating "Overall, we continue to see significant upside potential in the company's genomic medicines pipeline programs and platforms, in particular the regulatory T (Treg) cell therapy platform, which may address a broad range of autoimmune diseases, and the ZFP-TF gene regulation platform, which may address certain difficult-to-target neurological indications. Our PT adjustment is based on review of our probability adjusted NPV model for the company's pipeline, including the Pifzer-partnered hemophilia Aprogram, Sanofi-partnered sickle cell disease and beta thalassemia programs, the wholly-owned Fabry's disease program, and the wholly-owned Treg cell therapy for solid organ transplantation program."

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