Sangamo Therapeutics Stock Plummets 56% After Pfizer Ends Partnership
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2024
0mins
Should l Buy TFC?
Source: Barron's
Sangamo Therapeutics Stock Decline: Sangamo Therapeutics' stock dropped 56% after Pfizer withdrew from their collaboration to develop a hemophilia drug, despite positive trial results for the treatment.
Future Plans and Analyst Reactions: Sangamo plans to seek new partnerships to advance the hemophilia program while analysts expressed disappointment over the termination of the agreement but maintained a Buy rating on the stock.
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Analyst Views on TFC
Wall Street analysts forecast TFC stock price to rise
17 Analyst Rating
10 Buy
6 Hold
1 Sell
Moderate Buy
Current: 46.710
Low
50.00
Averages
55.93
High
64.00
Current: 46.710
Low
50.00
Averages
55.93
High
64.00
About TFC
Truist Financial Corporation is a financial services company. As a commercial bank, it offers a range of products and services through its wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Its segments include Consumer and Small Business Banking (CSBB) and Wholesale Banking (WB). CSBB segment serves retail, premier, and small business clients, providing transaction, money market, savings, time deposits and payment services, credit cards, loans, and mortgages through digital banking, a network of community banking branches, ATMs, virtual service centers, and other channels. WB segment provides a comprehensive set of products, solutions, and advisory services to commercial, corporate, institutional and wealth clients. It also invests in certain affordable housing, new market tax credit, and renewable energy tax credit investments.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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