Zacks: Analysts Expect Sangamo Therapeutics Inc (SGMO) Will Post Quarterly Sales of $39.93 Million

Equities analysts expect that Sangamo Therapeutics Inc (NASDAQ:SGMO) will post $39.93 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Sangamo Therapeutics’ earnings. The highest sales estimate is $47.10 million and the lowest is $32.75 million. Sangamo Therapeutics reported sales of $11.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 238.1%. The firm is scheduled to issue its next earnings report on Thursday, November 8th.

On average, analysts expect that Sangamo Therapeutics will report full-year sales of $94.08 million for the current financial year, with estimates ranging from $50.00 million to $118.33 million. For the next fiscal year, analysts expect that the firm will report sales of $98.89 million per share, with estimates ranging from $50.00 million to $129.17 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sangamo Therapeutics.

Sangamo Therapeutics (NASDAQ:SGMO) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Sangamo Therapeutics had a negative return on equity of 26.36% and a negative net margin of 105.65%. The business had revenue of $21.42 million for the quarter, compared to analyst estimates of $21.43 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 159.6% compared to the same quarter last year.

A number of research analysts have weighed in on SGMO shares. Bank of America started coverage on shares of Sangamo Therapeutics in a research note on Wednesday, June 20th. They issued a “buy” rating and a $24.00 price target on the stock. Cowen reissued a “buy” rating on shares of Sangamo Therapeutics in a research report on Monday, July 23rd. BidaskClub lowered shares of Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Sangamo Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Finally, ValuEngine raised shares of Sangamo Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.29.

In other Sangamo Therapeutics news, CFO Kathy Yi sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $15.38, for a total transaction of $76,900.00. Following the sale, the chief financial officer now directly owns 12,250 shares of the company’s stock, valued at $188,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 30,000 shares of company stock worth $458,700 over the last ninety days. Insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. increased its holdings in shares of Sangamo Therapeutics by 93.7% in the first quarter. First Mercantile Trust Co. now owns 7,666 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 3,708 shares during the last quarter. Leisure Capital Management increased its holdings in shares of Sangamo Therapeutics by 9.3% in the second quarter. Leisure Capital Management now owns 43,676 shares of the biopharmaceutical company’s stock valued at $620,000 after purchasing an additional 3,714 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sangamo Therapeutics by 7.7% in the first quarter. Principal Financial Group Inc. now owns 54,480 shares of the biopharmaceutical company’s stock valued at $1,035,000 after purchasing an additional 3,910 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Sangamo Therapeutics by 38.4% in the second quarter. Amalgamated Bank now owns 15,478 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of Sangamo Therapeutics by 42.5% in the second quarter. Xact Kapitalforvaltning AB now owns 17,446 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 5,200 shares during the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SGMO traded up $0.35 during trading on Tuesday, hitting $15.65. 2,113,880 shares of the company’s stock were exchanged, compared to its average volume of 1,967,697. Sangamo Therapeutics has a 1-year low of $9.50 and a 1-year high of $27.50. The company has a current ratio of 7.24, a quick ratio of 4.78 and a debt-to-equity ratio of 0.07.

About Sangamo Therapeutics

Sangamo Therapeutics, Inc focuses on translating ground-breaking science into genomic therapies that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger DNA-binding protein (ZFP) technology enables specific genome editing and gene regulation.

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