Precigen stock rating reiterated as Overweight by Cantor Fitzgerald

Investing.com - Cantor Fitzgerald has reiterated an Overweight rating on Precigen Inc. (NASDAQ:PGEN) following the company’s recent preferred stock conversion. The stock has shown remarkable momentum, delivering a 211% return year-to-date, with the current price of $3.48 sitting well above its 52-week low of $0.65.

The firm maintained its positive stance on the biotechnology company after updating its financial model to account for Precigen’s recent corporate action. According to InvestingPro data, analysts have set price targets ranging from $8.00 to $8.50, suggesting significant potential upside from current levels.

The model update reflects Precigen’s conversion of its 8.00% Series A Convertible Perpetual Preferred Stock into 54.9 shares of common stock, which was completed on September 17, 2025.

Cantor Fitzgerald noted that this conversion represents a significant change to Precigen’s capital structure that warranted a revision to their financial projections.

The preferred stock conversion was delivered as scheduled last week, finalizing a transaction that impacts the company’s outstanding share count and dividend obligations.

In other recent news, Precigen, Inc. has announced the conversion of 79,000 shares of its 8.00% Series A Convertible Perpetual Preferred Stock into approximately 54.9 million common shares, with an aggregate stated value of $79 million. This conversion was conducted under the terms of the company’s Amended and Restated Articles of Incorporation and did not involve any commissions or remuneration for solicitation. Precigen also secured $100 million in non-dilutive financing through a credit facility agreement with Pharmakon Advisors, LP, with the potential to access an additional $25 million by March 2027. This financing bears interest at a variable rate and will mature five years after closing.

On the analyst front, Cantor Fitzgerald has reiterated its Overweight rating for Precigen, maintaining a positive outlook despite recent share price fluctuations. Similarly, H.C. Wainwright has reiterated its Buy rating and $8.50 price target following the FDA’s early approval of Papzimeos for treating recurrent respiratory papillomatosis. Precigen has also set a wholesale acquisition cost of $460,000 for a full treatment cycle of Papzimeos. Additionally, the company has signed a supply agreement with Catalent Maryland, Inc. for the commercial manufacturing of PAPIZEMOS, effective August 2025. This agreement ensures that Catalent will handle various services related to the product’s manufacturing and maintenance.

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