JMP reiterates Sangamo at market outperform

Sangamo BioSciences, Inc. was reiterated at market outperform with an $8 price target by JMP Securities analyst Charles C. Duncan. The analyst learned from a diabetic neuropathy expert that there is a major void in the treatment of diabetic neuropathy and SB-509 could have disease-modifying potential. JMP expects the phase 2 study of SB-509 to begin in the third quarter of this year. Shares of the Richmond, Calif., biotechnology company were up 31 cents, or 5.76%, at $5.69 on volume of 39,917 shares versus the three-month running average of 97,646 shares. (Nasdaq: SGMO)

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