Wells Fargo analyst Jim Birchenough raised his price target for Sangamo Therapeutics (SGMO) to $39 from $30 following the company's cell therapy collaboration with Gilead Sciences (GILD). The analyst sees "significant upside potential" in Sangamo and would be buyers of the stock at current levels. He believes the collaboration is validation of a "potential best-in-class" gene editing platform and provides "significant option value" on exposure to next-generation cell therapies with Gilead. Birchenough reiterates an Outperform rating on Sangamo. The stock in midday trading is up 21%, or $4.75, to $26.96.