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H.C. Wainwright Thinks Precigen’s Stock is Going to Recover

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In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Precigen (PGENResearch Report), with a price target of $10.00. The company’s shares closed last Tuesday at $2.16, close to its 52-week low of $1.91.

According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 11.0% and a 39.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Cellectar Biosciences, Harpoon Therapeutics, and Corcept Therapeutics.

Currently, the analyst consensus on Precigen is a Strong Buy with an average price target of $13.33, a 522.9% upside from current levels. In a report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $13.00 price target.

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Based on Precigen’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $21.56 million and GAAP net loss of $29.76 million. In comparison, last year the company earned revenue of $23.58 million and had a GAAP net loss of $29.51 million.

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Precigen, Inc. is a biotechnology company, which engages in the research and development of synthetic biology technologies. It focuses on programming biological systems to alleviate disease, remediate environmental challenges, and provide sustainable food and industrial chemicals. The product pipeline includes Isobutanol, Isobutyraldehyde, Farnesene, and Isoprene. The company was founded by Thomas David Reed in 1998 and is headquartered in Germantown, MD.

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