In a report released on June 25, Yanan Zhu from Wells Fargo maintained a Hold rating on Sangamo Biosciences (SGMO – Research Report), with a price target of $2.00.
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Yanan Zhu has given his Hold rating due to a combination of factors related to Sangamo Biosciences’ recent clinical trial data and future prospects. The updated data from the Fabry program, particularly the 1-year eGFR slope results, remain promising, albeit slightly less steep than previously reported. Despite this, the results are still favorable compared to other treatments, which supports the potential for a Biologics License Application (BLA) filing as early as the first quarter of 2026.
Another reason for the Hold rating is the ongoing business development negotiations that Sangamo is engaged in, which could impact future growth and partnerships. Additionally, while the clinical benefits observed in secondary endpoints are encouraging, the company plans to conduct further comparative analyses with existing Fabry treatments. These factors, combined with the need for additional data and regulatory steps, contribute to the cautious optimism reflected in the Hold rating.