Evogene price target lowered to $3.50 from $5 at Lake Street

Lake Street analyst Ben Klieve lowered the firm’s price target on Evogene (EVGN) to $3.50 from $5 and keeps a Buy rating on the shares. Mixed Q1 results were highlighted by an extended cash runway via a Lavie Bio asset sale and strong year-over-year growth out of Casterra, the analyst tells investors. The number of potential catalysts is declining, but a major potential event of a follow on seed order and/or commercial castor oil agreement “represent the major potential events in 2025,” the analyst says. The firm maintains a Buy rating on Evogene, but adds that “our conviction has been on the decline for several quarters.”