JMP reiterates Sangamo at market outperform

Sangamo BioSciences Inc. was reiterated at its market outperform rating and an $8 price target by JMP Securities analyst Charles C. Duncan on news that the company reported solid fourth-quarter 2005 financial results. Sangamo's results beat JMP's estimates and were in line with consensus expectations. The analyst expects 2006 to be a transformative year for the company with first in-human data that show safety and important biologic activity from a zinc-finger protein (ZFP) compound, advancement of SB-509 into phase 2 diabetic neuropathy studies, and a second ZFP drug candidate to enter the clinic. Shares of the Richmond, Calif., pharmaceutical company were up 15 cents, or 2.83%, at $5.45 on volume of 235,062 shares versus the three-month running average of 117,281 shares. (Nasdaq: SGMO)

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