Here’s What the Wall Street Thinks About Precigen (PGEN)’s PAPZIMEOS Approval

Precigen, Inc. (NASDAQ:PGEN) is one of the Best Rising Penny Stocks to Buy According to Hedge Funds. On August 15, the FDA announced approval for PAPZIMEOS to treat adults with recurrent respiratory papillomatosis. Wall Street has been bullish on the stock since the approval, and the stock has gained more than 40%.

Recently, on August 19, Swayampakula Ramakanth, an analyst from H.C. Wainwright, reiterated a Buy rating on Precigen, Inc. (NASDAQ:PGEN), keeping the associated price target the same at $8.50.

The analyst noted that approval came earlier than expected, creating a positive surprise for the company. The treatment has been approved for treating recurrent respiratory papillomatosis, which affects about 27,000 adults in the United States, indicating a huge market for the drug.

The drug looks promising as the analyst noted sales projections are expected to reach $15 million by the fourth quarter of 2025. Moreover, the company also plans to launch the drug by focusing on key Integrated Delivery Networks and community hospitals.

Precigen, Inc. (NASDAQ:PGEN) is a biopharmaceutical company that develops gene and cell therapies to treat serious diseases.

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