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Sangamo Biosciences Earnings In Retrospect: Up 7.1% in the Last 10 Days (SGMO)

Published on Sat, 05/18/2013 - 09:15
By Robert Cotter

When Sangamo Biosciences (NASDAQ:SGMO) reported earnings a week ago on May 8th, 2013, analysts, on average, expected the company to report a loss of $0.14 on sales of $4.0 million. Sangamo Biosciences actually reported a loss of $0.13 per share on sales of $4.6 million, beating EPS estimates by $0.01 and beating revenue estimates by $0.6 million. Since the company's report, shares of Sangamo Biosciences have risen from $7.87 to $8.43, representing a gain of 7.1% in the past 10 days.

Sangamo BioSciences, Inc. researches and develops transcription factors in the regulation of genes. These transcription factors are the proteins that turn genes on and off and regulate gene expression by recognizing specific DNA sequences.

Sangamo Biosciences (NASDAQ:SGMO) has potential upside of 106.4% based on a current price of $8.43 and analysts' consensus price target of $17.40. The stock should find resistance at its 50-day moving average (MA) of $9.40, as well as support at its 200-day MA of $7.31.

Over the past year, Sangamo Biosciences has traded in a range of $4.04 to $11.24 and closed Thursday at $8.43, 109% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has declined 1.7%.

By Robert Cotter
rcotter@fnno.com