Evogene price target lowered to $6 from $11.25 at Alliance Global Partners

Alliance Global Partners analyst Scott Henry lowered the firm’s price target on Evogene (EVGN) to $6 from $11.25 and keeps a Buy rating on the shares after the company reported Q4 earnings that were at the lower end of expectations. The company has cut costs to extend its runway and the firm has lowered its price target largely to reflect greater expected equity dilution, notes the analyst, who views the next key catalyst as the ongoing revenue ramp for the castor seed business.