Precigen: JMP Securities reiterates Market Outperform, raises PT to $6.

Precigen: JMP Securities reiterates Market Outperform, raises PT to $6.

JMP Securities has reaffirmed its Market Outperform rating and raised the target price to $6 for Precigen Inc. (NASDAQ: PGEN), indicating significant upside potential from the current price of $1.50. This positive outlook is based on the company's advancements in treating recurrent respiratory papillomatosis (RRP) [1].

Precigen has shown strong momentum, with its stock rising by 110% over the past six months, despite maintaining a "FAIR" overall financial health rating. The company's recent patient advocacy event, held on RRP Awareness Day, highlighted the significant burden of the disease and the need for effective treatment. JMP Securities believes that Precigen's PRGN-2012 therapy could be transformational for RRP patients [1].

While Precigen currently operates at a loss, it maintains a robust liquidity position with a current ratio of 3.53, indicating sufficient resources to support its development programs. The FDA is expected to make a decision on PRGN-2012 by August 27, 2025. Precigen has a strong financial position, with a cash reserve of approximately $81 million, which is projected to support operations through 2026 [1].

Analysts from Cantor Fitzgerald have increased their target price to $5, citing Precigen's stable financial health and ongoing discussions with payers. Meanwhile, H.C. Wainwright and Stifel have maintained their Buy ratings, with target prices of $6 and $6 respectively. These ratings are driven by promising clinical data and the potential market advantage of PRGN-2012 over competitors like INOVIO Pharmaceuticals [1].

Precigen is actively preparing for the potential launch of PRGN-2012, which aims to address the underlying causes of RRP rather than just managing symptoms. The company is expanding manufacturing capacity and collaborating with healthcare providers to build awareness ahead of the anticipated product launch [1].

References:
[1] https://id.investing.com/news/analyst-ratings/target-harga-saham-precigen-dipertahankan-di-6-oleh-jmp-untuk-terapi-rrp-93CH-2809385