UPDATE: Wedbush Raises PT to $13 on Sangamo BioSciences on HIV Progress, Time Value
Wedbush maintained Sangamo BioSciences (NASDAQ: SGMO) with an Outperform rating and raised the price target from $10.00 to $13.00.
Wedbush said, "Sangamo presented immunologic results supporting previous observations about the functionality and durability of SB-728-T modified T-cells at the 20th Conference on Retroviruses and Opportunistic Infections (CROI). … We are reiterating our OUTPERFORM rating and increasing our fair value to $13 from $10 due to HIV progress, error correction, and time value. By focusing on CCR5 heterozygotes, we increased our peak penetration and net peak annual worldwide revenues to Sangamo to about $656 million from about $500 million."
Sangamo BioSciences closed at $10.26 on Wednesday.
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