Wedbush analyst Liana Moussatos weighed in today with a few insights on Sangamo Biosciences, Inc. (NASDAQ:SGMO), after the company announced that it has regained the rights for the development of ZFP therapeutics for hemophilia A and B from Shire.
In her research note, Moussatos wrote, “We have updated our model based on guidance and removed any potential milestone payments from the previous agreement. We note that we did not include the hemophilia program in our valuation of SGMO, so there was no change to our price target. We continue to project cash runway for the foreseeable future.”
“With the hemophilia program now in house, we anticipate the company could accelerate development and potentially start dosing patients in the first half of 2016. As for Sangamo’s other programs, we anticipate the company will file INDs for Hunter and Beta-thalassemia in the first half of 2016, and INDs for hemophilia A/factor 8, Gaucher, sickle cell, and one undisclosed lysosomal storage disease before the end of 2016,” Moussatos added.
The analyst reiterated an Outperform rating on Sangamo Biosciences shares, with a price target of $30, which represents a potential upside of 314% from where the stock is currently trading.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 18.2% and a 37.1% success rate. Moussatos has a -28.0% average return when recommending SGMO, and is ranked #112 out of 3742 analysts.
All the 6 analysts polled by TipRanks rate Sangamo Biosciences stock a Buy. With a return potential of 203%, the stock’s consensus target price stands at $22.