Sangamo Therapeutics, Inc. (NASDAQ:SGMO) Expected to Announce Quarterly Sales of $23.27 Million

Equities analysts forecast that Sangamo Therapeutics, Inc. (NASDAQ:SGMO – Get Rating) will post sales of $23.27 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Sangamo Therapeutics’ earnings. The lowest sales estimate is $17.00 million and the highest is $28.50 million. Sangamo Therapeutics posted sales of $27.87 million during the same quarter last year, which suggests a negative year-over-year growth rate of 16.5%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sangamo Therapeutics will report full year sales of $98.95 million for the current fiscal year, with estimates ranging from $80.00 million to $113.70 million. For the next fiscal year, analysts expect that the firm will post sales of $120.44 million, with estimates ranging from $30.00 million to $250.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Sangamo Therapeutics.

Sangamo Therapeutics (NASDAQ:SGMO – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. Sangamo Therapeutics had a negative return on equity of 43.12% and a negative net margin of 156.53%. The business had revenue of $28.20 million for the quarter, compared to the consensus estimate of $27.29 million. During the same period last year, the business posted ($0.32) EPS. The business’s revenue was up 7.2% compared to the same quarter last year.

Several research analysts recently weighed in on the company. Truist Financial dropped their target price on Sangamo Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 7th. Wedbush restated a “neutral” rating on shares of Sangamo Therapeutics in a research note on Friday, May 6th. Finally, StockNews.com downgraded Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.50.

Shares of NASDAQ:SGMO opened at $4.00 on Friday. Sangamo Therapeutics has a 12-month low of $3.48 and a 12-month high of $12.83. The business’s fifty day simple moving average is $5.10 and its 200-day simple moving average is $6.55. The company has a market capitalization of $586.75 million, a PE ratio of -3.28 and a beta of 1.63.

Institutional investors and hedge funds have recently modified their holdings of the business. Aaron Wealth Advisors LLC acquired a new position in shares of Sangamo Therapeutics in the 1st quarter valued at about $523,000. Ensign Peak Advisors Inc acquired a new position in Sangamo Therapeutics in the 4th quarter worth about $34,000. C M Bidwell & Associates Ltd. acquired a new position in Sangamo Therapeutics in the 4th quarter worth about $40,000. Point72 Hong Kong Ltd acquired a new position in Sangamo Therapeutics in the 4th quarter worth about $46,000. Finally, Brown Advisory Inc. acquired a new position in Sangamo Therapeutics in the 4th quarter worth about $76,000. 52.40% of the stock is owned by institutional investors.

About Sangamo Therapeutics (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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