Precigen (NASDAQ:PGEN) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Precigen (NASDAQ:PGEN) announced its earnings results on Wednesday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02, Zacks reports. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%.

Precigen Stock Up 7.2 %

NASDAQ PGEN traded up $0.12 on Wednesday, hitting $1.79. 1,382,664 shares of the stock were exchanged, compared to its average volume of 1,174,087. Precigen has a fifty-two week low of $0.65 and a fifty-two week high of $2.17. The company has a market cap of $524.24 million, a PE ratio of -3.25 and a beta of 1.58. The company has a 50-day moving average price of $1.57 and a 200-day moving average price of $1.14.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PGEN shares. HC Wainwright reissued a “buy” rating and issued a $6.00 price target (up from $4.00) on shares of Precigen in a research note on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $5.00 price target on shares of Precigen in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.00.

About Precigen

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.