Citizens JMP Raises PT on Precigen from $6 to $8, Keeps Outperform Rating

Precigen Inc. (NASDAQ:PGEN) is one of the 11 Low Price High Volume Stocks to Buy According to Analysts. On August 18, Citizens JMP raised the price target on Precigen Inc. (NASDAQ:PGEN) from $6 to $8, keeping its Outperform rating on the stock.

Jason Butler from Citizens JMP increased the price target on PGEN following the approval of the company’s PAPZIMEOS for the treatment of respiratory papillomatosis. Butler remains bullish on the stock as the approval made PAPZIMEOS the first and only FDA-approved theory for adult RRP patients.

A scientist researching the innate and adaptive immune response in a biopharmaceutial laboratory.

“With the landmark FDA approval of PAPZIMEOS and broad label, all adult RRP patients are now eligible for access to the first and only approved therapy that targets the root cause of the disease,” said Helen Sabzevari, President and CEO of Precigen.

The analyst pointed out the approval, mentioning the price, with a wholesale acquisition cost of $460,000 per patient. This is more than double compared to the company’s prior assumption of $200,000 per patient, Butler mentioned.

Precigen Inc. (NASDAQ:PGEN) is a clinical-stage biopharmaceutical company that develops gene and cell therapies. The company uses precision technology to target diseases in areas of immuno-oncology, autoimmune disorders, and infectious diseases.

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Disclosure: None. This article is originally published at Insider Monkey.