NEW YORK- Sangamo BioSciences Inc. which is developing products for congestive heart failure and HIV, could become a takeover target for big pharmaceutical companies, an analyst said on Wednesday.
Navdeep Jaikaria, a biotech analyst with Rodman & Renshaw believes Sangamo is just the kind of company "with novel science behind their products," that the drug companies would be interested in acquiring, according to BusinessWeek magazine.
Meanwhile, Pamela Bassett, of Cantor Fitzgerald, told the magazine that Sangamo's stock could rise to $17 in the next 12 months. It closed on the Nasdaq on Wednesday at $7.52.
In September the company that a protein it developed appeared to make human immune system cells permanently resistant to HIV infection.
Sangamo officials couldn't be reached immediately for comment.
NASDAQ:SGMO closed wednesday's after hours trading up 19 cents to $7.71 (2.5%).
Some info on the company: Sangamo Biosciences, Inc. engages in the research, development, and commercialization of DNA binding proteins for the therapeutic regulation and modification of disease-related genes. Its technology platform is based on the engineering of a class of proteins known as zinc finger DNA-binding proteins (ZFPs). The applications of the company’s technology include pharmaceutical protein production, development of human therapeutics, and plant agriculture. It has also initiated preclinical animal studies of ZFP therapeutics in congestive heart failure, nerve regeneration, and neuropathic pain; and has research-stage programs in human immunodeficiency virus, X-linked severe combined immunodeficiency, hemophilia and hemoglobinopathies, and cancer and cancer immunotherapy.
Interesting ideas and science.
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