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On Thursday, JMP analysts led by Jason N. Butler reaffirmed a Market Outperform rating and a $6.00 price target for Precigen Inc. (NASDAQ:PGEN), expressing confidence in the company’s commercial readiness for its upcoming product. Currently trading at $1.28, the stock has seen a notable 56% surge over the past six months, according to InvestingPro data. Precigen reported its financial results for the first quarter of 2025 yesterday afternoon and offered a business update, highlighting its ongoing preparations for the potential second-half 2025 launch of its therapeutic candidate PRGN-2012.
The company’s commercial readiness activities are in full swing, with medical liaisons already engaging healthcare providers to build awareness. Precigen is also actively involved in payor engagement, advocacy, and disease awareness initiatives, alongside ensuring manufacturing readiness for PRGN-2012. These efforts are part of a strategic approach to secure an optimal launch position for the product.
Precigen concluded the first quarter of 2025 with approximately $81 million in cash reserves. According to JMP’s analysis, this financial position should provide the company with sufficient funding into 2026, which extends beyond the anticipated market introduction of PRGN-2012. InvestingPro analysis reveals that while the company holds more cash than debt and maintains strong liquidity with a current ratio of 3.53, it’s currently burning through cash at a significant rate - a crucial metric for investors monitoring pre-commercial biotech companies.
JMP’s valuation of Precigen reflects a risk-adjusted, sum-of-the-parts approach. The $6.00 price target suggests the firm sees substantial potential in Precigen’s pipeline and its capability to execute the forthcoming launch successfully. The reiterated rating and price target come as the company gears up for a significant milestone with the potential approval and launch of PRGN-2012 in the latter half of the year. For deeper insights into Precigen’s financial health, valuation metrics, and 8 additional key ProTips, access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Precigen Inc. has reported a net loss of $126.2 million for fiscal year 2024, which is an increase from the $95.9 million loss recorded in 2023. Despite this, the company has made notable progress with its lead product, PRGN-2012, a potential treatment for recurrent respiratory papillomatosis (RRP). The FDA has accepted the Biologics License Application for PRGN-2012, setting a review date for August 27, 2025. Analysts from Stifel maintain a Buy rating with a $7 target, while Cantor Fitzgerald has raised its price target to $5, reflecting confidence in Precigen’s market potential and financial stability. H.C. Wainwright also reiterated a Buy rating, keeping a $6 target, and highlighted the drug’s potential as the first FDA-approved therapy for RRP. Precigen ended 2024 with $97.9 million in cash, supporting operations into 2026. The company is preparing for the commercial launch of PRGN-2012, with strategic partnerships and manufacturing expansions in place.
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