JMP reiterates Sangamo at market outperform

Sangamo BioSciences was reiterated at market outperform with an $8 price target by JMP Securities analyst Charles C. Duncan after third-quarter results showed revenues of $412,000, slightly lower than expectations, and a net loss of $3.7 million or $0.14 a share, which was in line with consensus estimates. In the quarter, the company made progress on its zinc-finger protein (ZFP) drug development programs and entered into multiple strategic alliances, which validates the company's novel technology platform, JMP said. Shares of the Richmond, Calif.-based drug development company were up $0.25, or 5.66%, at $4.67 on volume of 27,854 shares versus the three-month running average of 40,153.8 shares.

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