Buy Rating Affirmed for Precigen Amid Promising Clinical Developments and Strategic FDA Alignment

JMP Securities analyst Jason Butler reiterated a Buy rating on Precigen (PGEN – Research Report) today and set a price target of $14.00.

Jason Butler has given his Buy rating due to a combination of factors surrounding Precigen’s promising developments in its clinical programs. His confidence is particularly anchored by the anticipated pivotal Phase 2 data for PRGN-2012 in treating recurrent respiratory papillomatosis (RRP), which is expected to be presented at the American Society of Clinical Oncology (ASCO). Butler’s positive outlook is further reinforced by Precigen’s strategic alignment with the FDA to pursue an accelerated approval path, as well as the company’s proactive measures to prepare for a potential commercial launch in 2025.
Furthermore, Butler’s endorsement of the stock is supported by the progress of other clinical trials, such as PRGN-2009 in HPV-associated cancers and PRGN-3006 and PRGN-3007 UltraCAR-T in advanced hematological cancers. These developments, alongside Precigen’s prudent financial management and the search for financing opportunities to solidify its balance sheet, contribute to the analyst’s optimistic valuation and justify the Buy rating.

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Precigen (PGEN) Company Description:

Precigen, Inc. is a biotechnology company, which engages in the research and development of synthetic biology technologies. It focuses on programming biological systems to alleviate disease, remediate environmental challenges, and provide sustainable food and industrial chemicals. The product pipeline includes Isobutanol, Isobutyraldehyde, Farnesene, and Isoprene. The company was founded by Thomas David Reed in 1998 and is headquartered in Germantown, MD.