H.C. Wainwright analyst Swayampakula Ramakanth has maintained their bullish stance on PGEN stock, giving a Buy rating today.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors highlighting Precigen’s promising developments and strategic initiatives. The FDA’s acceptance of the BLA for PRGN-2012, a treatment for recurrent respiratory papillomatosis (RRP), with a set PDUFA date and no planned advisory committee meeting, suggests a smooth approval process. PRGN-2012 is poised to become the first FDA-approved therapy for RRP, offering strong efficacy, convenient administration, and favorable safety data, which positions it as a potential new standard of care.
Additionally, Precigen’s strategic preparations for commercial launch, including increased manufacturing capacity and collaboration with Eversana, demonstrate readiness to capitalize on the opportunity. The company’s focus on targeting key prescribers and the projected revenue growth from PRGN-2012 further support the Buy rating. Furthermore, Precigen’s ongoing initiatives with its UltraCAR-T platform and other gene therapy assets present partnership opportunities that could provide additional financial benefits, reinforcing the positive outlook for the company.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $6.00 price target.