Sangamo price target lowered to $3.90 from $4.20 at Stifel

Stifel analyst Benjamin Burnett lowered the firm’s price target on Sangamo to $3.90 from $4.20 and keeps a Hold rating on the shares. Despite "interesting" updates on the efficacy of ST-920, shares of the stock are markedly down year-to-date, which is largely due to questions around the regulatory path, the analyst tells investors. Stifel has "warmed up" to ST-920’s clinical data and believes this is working as intended, but more conviction on regulatory path is needed to build a bullish thesis.