Monday, October 26, 2015

Jefferies Initiation on 10/23 (SGMO)

Sangamo Biosciences, Inc. ($6.42 BUY)
Assuming with Buy, Risk/Reward Skewed to Upside
Gena Wang, PhD, CFA
Key Takeaway
With stock trading at ~$300M EV, we believe the ZFN gene-editing technology platform
with initial clinical proof-of-concept established, should support the current valuation for SGMO, while any further clinical validation would provide substantial upside.
Price target $12 to $14

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