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JMP ups revenue estimate for Sangamo
JMP Securities analyst Charles C. Duncan reiterated Sangamo BioSciences, Inc. at market outperform and a $9 price target. The company reported third-quarter financial results that beat JMP's and consensus estimates on both the top and bottom lines. Revenues of $1.8 million came in higher than the analyst's expectations of $1.2 million and above consensus at $1.7 million. Duncan raised his full-year 2006 revenue estimate to $8.7 million from $8.2 million, and lowered his net loss per share expectations to $0.36 from $0.43. Shares of the Richmond, Calif.-based pharmaceutical company were up 34 cents, or 6.45%, at $5.61. (Nasdaq: SGMO)
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