TD Cowen analyst Ritu Baral has maintained their bullish stance on SGMO stock, giving a Buy rating on April 7.
Ritu Baral has given her Buy rating due to a combination of factors that highlight Sangamo Biosciences’ strategic positioning and financial outlook. The company has secured a significant licensing deal with LLY for their STAC-BBB technology, which not only provides an immediate $18 million boost but also opens the door for up to $1.4 billion in milestone payments and royalties from potential commercial sales. This deal reflects Sangamo’s ability to leverage its innovative technologies into lucrative partnerships, enhancing its financial stability and growth prospects.
Additionally, Sangamo’s alignment with the FDA on an accelerated filing pathway for their GTx ‘920 for Fabry disease is a critical milestone. This agreement reduces the need for an expensive registrational study and accelerates the timeline for potential approval, which could significantly enhance the company’s market position. With a strategic focus on their neurology pipeline and a clear regulatory pathway, Sangamo is well-positioned to capitalize on its R&D investments, making it an attractive buy for investors.
According to TipRanks, Baral is a 2-star analyst with an average return of 0.2% and a 36.87% success rate. Baral covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Alnylam Pharma, and Insmed.
In another report released on April 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.