TD Cowen analyst Ritu Baral has maintained their bullish stance on SGMO stock, giving a Buy rating today.
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Ritu Baral has given her Buy rating due to a combination of factors related to Sangamo Biosciences’ financial and strategic positioning. The company has recently secured a $23 million equity raise, which, along with other financial maneuvers, positions them with a pro forma cash balance of approximately $58 million. This financial runway is expected to support operations until the end of the third quarter of 2025, providing a stable foundation for ongoing and future projects.
Additionally, Sangamo Biosciences has made significant progress in their regulatory pathway for the ‘920 gene therapy for Fabry disease. The alignment with the FDA on an accelerated filing process, based on promising early trial data, reduces the need for an expensive and time-consuming confirmatory trial. This strategic advantage could expedite the approval process, enhancing the company’s potential for future revenue growth. These factors contribute to the positive outlook and justify the Buy rating.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $1.50 price target.