JMP reiterates Sangamo at market outperform

Sangamo BioSciences, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at market outperform with an $8 price target. Sangamo reported solid financial results for the first quarter, beating JMP's and consensus expectations. The analyst increased his 2006 revenue estimate to $7.7 million from $6.3 million and lowered the 2006 net loss projection to $0.39 per share from $0.44 per share. Shares of the Richmond, Calif., biopharmaceutical company were down 3 cents, or 0.57%, at $5.19 on volume of 73,181 shares versus the three-month running average of 90,941 shares. (Nasdaq: SGMO)

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