Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Sangamo Biosciences (SGMO – Research Report) and keeping the price target at $10.00.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Patrick Trucchio has given his Buy rating due to a combination of factors that position Sangamo Biosciences for significant growth. The company’s strategic licensing agreements, particularly with Eli Lilly, enhance its leadership in neurology-focused genomic medicine, providing substantial financial support and positioning it as a key player in gene therapy delivery for central nervous system diseases. The upfront payment from Lilly is expected to support crucial near-term developments, including a potential accelerated approval for its Fabry disease gene therapy, isa-vec, which could be a groundbreaking advancement in the field.
Additionally, Sangamo’s ongoing partnerships and the initiation of clinical trials for new therapies underscore its robust pipeline. The promising results from the Phase 1/2 trial for Fabry disease, showcasing significant improvements in kidney function and quality-of-life measures, further bolster confidence in its therapeutic offerings. These developments, coupled with the potential for non-dilutive funding from future partnerships, suggest that Sangamo’s stock is undervalued relative to its advancing gene therapy pipeline, justifying the Buy rating.
According to TipRanks, Trucchio is an analyst with an average return of -10.0% and a 26.34% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Altimmune, and Milestone Pharmaceuticals.