Sangamo reiterated at market outperform

Sangamo BioSciences, Inc. was reiterated at market outperform with an increased price target of $9 from $8 by JMP Securities analyst Charles C. Duncan on reports of encouraging phase 1 interim data of its lead zinc finger protein drug candidate, SB-509, in the treatment of diabetic neuropathy. JMP believes SB-509 is the most promising drug in early clinical development and is worthy of additional investigation. Shares of the Richmond, Calif.-based biopharmaceutical company were down 46 cents, or 6.47%, at $6.65 on volume of 343,347 shares versus the three-month running average of 245,430 shares. (Nasdaq: SGMO)

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