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JMP Securities reaffirmed its Market Outperform rating and $6 price target on Precigen Inc. (NASDAQ:PGEN), representing significant upside from the current price of $1.50, following a patient advocacy event for Recurrent Respiratory Papillomatosis (RRP). According to InvestingPro data, the stock has shown strong momentum with a 110% gain over the past six months, though it maintains a "FAIR" overall financial health rating. The event, held on RRP Awareness Day, was hosted by the Recurrent Respiratory Papillomatosis Foundation and Precigen.
The research firm highlighted discussions from the event that emphasized the significant disease burden RRP patients face and the need for therapies addressing the underlying cause of the disease rather than just managing symptoms. JMP noted the event reinforced its view that Precigen’s PRGN-2012 therapy could be "transformational" for RRP patients. While InvestingPro analysis reveals the company is currently unprofitable with negative earnings, it maintains a strong liquidity position with a current ratio of 3.53, suggesting adequate resources to support its development programs.
JMP expressed confidence that PRGN-2012 has potential to quickly establish itself as a standard of care treatment option if approved. The therapy is currently awaiting an FDA decision with a PDUFA date of August 27, 2025. For deeper insights into Precigen’s financial health and growth prospects, investors can access comprehensive analysis and 12 additional ProTips through InvestingPro’s detailed research reports.
The research firm maintains a positive outlook on the therapy’s approval prospects, stating it sees a "high probability of approval" by the scheduled PDUFA date. JMP’s $6 price target is based on a risk-adjusted, sum-of-the-parts valuation model.
Precigen’s PRGN-2012 is being developed to reduce the need for repeated surgeries that RRP patients currently undergo as part of their treatment regimen. The therapy aims to address the underlying cause of RRP rather than just managing the recurring symptoms.
In other recent news, Precigen Inc. has been actively preparing for the potential launch of its therapeutic candidate PRGN-2012, aimed at treating recurrent respiratory papillomatosis (RRP). The company recently reported its first-quarter 2025 financial results, revealing cash reserves of approximately $81 million, which analysts at JMP believe will support operations into 2026. The FDA has accepted the Biologics License Application for PRGN-2012, with a review date set for August 27, 2025, and no advisory committee meeting planned. Cantor Fitzgerald has raised Precigen’s stock target to $5, citing financial stability and ongoing discussions with payors. Meanwhile, H.C. Wainwright maintains a Buy rating with a $6 target, projecting significant revenue potential for PRGN-2012 by 2033. Stifel analysts also reiterated a Buy rating, highlighting the drug’s promising clinical data and potential market advantage over competitors like INOVIO Pharmaceuticals. The company’s strategic preparations include expanding manufacturing capacity and engaging healthcare providers to build awareness ahead of the anticipated product launch.
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