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

Precigen (NASDAQ:PGEN) issued its earnings results on Wednesday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, Zacks reports. Precigen had a negative return on equity of 123.06% and a negative net margin of 3,521.68%. The business had revenue of $1.19 million during the quarter, compared to analysts’ expectations of $1.30 million.

Precigen Stock Performance

Shares of NASDAQ PGEN traded up $0.01 during midday trading on Thursday, reaching $1.80. The stock had a trading volume of 1,290,966 shares, compared to its average volume of 1,174,767. The company’s 50 day moving average price is $1.58 and its 200 day moving average price is $1.14. Precigen has a twelve month low of $0.65 and a twelve month high of $2.17. The firm has a market cap of $527.16 million, a price-to-earnings ratio of -3.27 and a beta of 1.58.

Wall Street Analyst Weigh In

PGEN has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Precigen in a report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Precigen in a research note on Thursday. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Precigen presently has a consensus rating of “Hold” and a consensus 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.