Zacks: Brokerages Anticipate Sangamo Therapeutics Inc (NASDAQ:SGMO) Will Post Quarterly Sales of $74.50 Million

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Wall Street brokerages expect Sangamo Therapeutics Inc (NASDAQ:SGMO) to announce $74.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sangamo Therapeutics’ earnings, with the highest sales estimate coming in at $183.00 million and the lowest estimate coming in at $15.50 million. Sangamo Therapeutics posted sales of $17.55 million in the same quarter last year, which suggests a positive year over year growth rate of 324.5%. The firm is expected to report its next quarterly earnings report on Wednesday, August 5th.

On average, analysts expect that Sangamo Therapeutics will report full year sales of $157.20 million for the current financial year, with estimates ranging from $59.70 million to $300.60 million. For the next financial year, analysts expect that the business will report sales of $117.58 million, with estimates ranging from $62.10 million to $156.15 million. Zacks’ sales averages are an average based on a survey of analysts that cover Sangamo Therapeutics.

Sangamo Therapeutics (NASDAQ:SGMO) last released its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.14). Sangamo Therapeutics had a negative net margin of 89.31% and a negative return on equity of 22.68%. The business had revenue of $13.10 million for the quarter, compared to analyst estimates of $22.73 million. During the same period in the prior year, the business earned ($0.41) earnings per share. The company’s revenue for the quarter was up 61.7% on a year-over-year basis.

A number of research firms recently weighed in on SGMO. BidaskClub cut Sangamo Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Zacks Investment Research lowered Sangamo Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Wedbush reiterated a “hold” rating and issued a $11.00 price objective on shares of Sangamo Therapeutics in a research report on Friday, June 19th. ValuEngine lowered Sangamo Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, HC Wainwright decreased their price objective on Sangamo Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Sangamo Therapeutics currently has an average rating of “Hold” and an average target price of $11.50.

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Sangamo Therapeutics by 0.7% in the 1st quarter. State Street Corp now owns 4,847,768 shares of the biopharmaceutical company’s stock worth $30,880,000 after purchasing an additional 33,142 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Sangamo Therapeutics by 5.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 21,524 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 1,205 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sangamo Therapeutics by 0.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 954,853 shares of the biopharmaceutical company’s stock worth $6,082,000 after purchasing an additional 4,589 shares during the last quarter. Tang Capital Management LLC bought a new position in shares of Sangamo Therapeutics in the 1st quarter worth $12,950,000. Finally, Advisor Group Holdings Inc. bought a new position in shares of Sangamo Therapeutics in the 1st quarter worth $119,000. Institutional investors and hedge funds own 52.92% of the company’s stock.

SGMO stock traded up $0.04 during midday trading on Thursday, reaching $8.77. 1,634,000 shares of the company’s stock traded hands, compared to its average volume of 2,356,573. The company has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $8.39. Sangamo Therapeutics has a 1-year low of $4.81 and a 1-year high of $13.33. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -10.57 and a beta of 2.25. The company has a quick ratio of 5.98, a current ratio of 5.98 and a debt-to-equity ratio of 0.10.

Sangamo Therapeutics Company Profile

Sangamo Therapeutics, Inc focuses on translating science into genomic medicines that transform patients' lives using platform technologies in genome editing, gene therapy, gene regulation, and cell therapy. The company's zinc finger proteins (ZFPs) could be engineered to make zinc finger nucleases (ZFNs), proteins that could be used to modify DNA sequences by adding or knocking out specific genes or genome editing; and ZFP transcription factors (ZFP TFs) proteins that can be used to increase or decrease gene expression or gene regulation.

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Earnings History and Estimates for Sangamo Therapeutics (NASDAQ:SGMO)

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