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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating on Precigen Inc. (NASDAQ:PGEN), maintaining its positive outlook on the biotechnology company despite recent share price volatility. The stock has shown remarkable momentum, delivering a 163% return year-to-date according to InvestingPro data.
The stock declined 8-9% during intraday trading while the broader biotech sector, as measured by the SPDR S&P Biotech ETF (XBI), remained relatively flat. Despite this pullback, Precigen shares remain approximately 40-45% higher than their pre-approval levels.
Cantor Fitzgerald attributes the recent share price movement to a combination of profit-taking by investors and ongoing market debate regarding the company’s expected commercial execution and overall market opportunity for its products.
The investment firm expressed increased confidence in the upcoming Papzimeos launch following recent analyst calls with the company. Papzimeos is Precigen’s newly approved product that represents a significant revenue opportunity.
Cantor Fitzgerald has updated its financial model for Precigen, calculating a discounted cash flow-based equity value of approximately $1.7-1.8 billion, which represents about 3.3 times the firm’s estimated peak sales for the company’s products.
In other recent news, Precigen Inc. has received full approval from the U.S. Food and Drug Administration (FDA) for PAPZIMEOS, a treatment for adults with recurrent respiratory papillomatosis (RRP). This approval makes PAPZIMEOS the first and only FDA-approved therapy for RRP, marking a significant milestone for the company. In conjunction with this approval, Precigen announced a wholesale acquisition cost of $460,000 for a full treatment cycle. Following the FDA’s decision, H.C. Wainwright reiterated its Buy rating for Precigen, maintaining a price target of $8.50. Additionally, Citizens JMP raised its price target for the company to $8.00, citing the treatment’s pricing and launch plans.
Precigen also entered into a commercial supply agreement with Catalent (NYSE:CTLT) Maryland, Inc. for the manufacturing of PAPZIMEOS. This agreement, effective August 2025, ensures Catalent will handle various manufacturing processes for the treatment. Under the terms, Precigen is committed to using Catalent exclusively for the external, commercial fill and finish manufacturing of PAPZIMEOS. These developments highlight a period of significant progress and strategic planning for Precigen.
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