HC Wainwright Reiterates Buy Rating for Precigen (NASDAQ:PGEN)

Precigen (NASDAQ:PGEN)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $6.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 231.49% from the company’s previous close. HC Wainwright also issued estimates for Precigen’s FY2027 earnings at $0.18 EPS, FY2028 earnings at $0.40 EPS and FY2029 earnings at $0.66 EPS.

Separately, JMP Securities reiterated a “market outperform” rating and set a $5.00 target price on shares of Precigen in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

Precigen Stock Performance

PGEN opened at $1.81 on Thursday. The business’s 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.15. Precigen has a one year low of $0.65 and a one year high of $2.17. The stock has a market capitalization of $530.09 million, a P/E ratio of -3.29 and a beta of 1.58.

Precigen (NASDAQ:PGEN) last posted its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Precigen had a negative return on equity of 123.06% and a negative net margin of 3,521.68%. The business had revenue of $1.19 million for the quarter, compared to analysts’ expectations of $1.30 million. On average, equities research analysts forecast that Precigen will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in Precigen in the 4th quarter valued at about $27,000. Stifel Financial Corp increased its position in Precigen by 94.9% in the 3rd quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 15,680 shares during the period. Envestnet Asset Management Inc. increased its position in Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 5,915 shares during the period. Boothbay Fund Management LLC acquired a new position in Precigen in the 4th quarter valued at about $35,000. Finally, RPO LLC purchased a new stake in Precigen in the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.