Sangamo reiterated at market outperform by Jefferies

Sangamo Biosciences, Inc. was reiterated at market outperform with an $8 price target by Jefferies & Co., Inc. analyst Charles C. Duncan on news of positive phase 1 trial results from the first-in-human trial of Sangamo's ZFP-based therapeutic, SB-509, in diabetic neuropathy. The results were presented at the American Academy of Neurology meeting. Outcomes demonstrated strong safety and better-than-expected efficacy results in this difficult-to-treat population, with no dose-limiting toxicities at physiologically effective doses. Shares of the Richmond, Calif., biotechnology company were down 37 cents, or 6.38%, at $5.43 on volume of 94,961 shares versus the three-month running average of 110,827 shares. (Nasdaq: SGMO)

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