Precigen price target raised to $8.50 from $6 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Precigen (PGEN) to $8.50 from $6 and keeps a Buy rating on the shares following FDA approval of Papzimeos for the treatment of recurrent respiratory papillomatosis. The firm did not expect an approval to come nearly two weeks earlier than the action date of August 27. The FDA’s “unprecedented way” of providing full approval without a need for a randomized study underscores the unmet need in RPR, the analyst tells investors in a research note. H.C. Wainwright expects the drug to generate sales of $1.1B in 2033 from $138M in 2026.