Precigen (NASDAQ:PGEN) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Precigen (NASDAQ:PGEN) released its earnings results on Tuesday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), Zacks reports. The business had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.54 million. Precigen had a negative return on equity of 55.47% and a negative net margin of 1,540.63%. During the same quarter last year, the company earned ($0.10) earnings per share.

Precigen Stock Up 4.0 %

PGEN traded up $0.06 on Wednesday, reaching $1.43. The company’s stock had a trading volume of 447,120 shares, compared to its average volume of 1,002,711. The company has a market capitalization of $354.71 million, a price-to-earnings ratio of -3.51 and a beta of 1.77. Precigen has a fifty-two week low of $0.84 and a fifty-two week high of $1.88. The stock has a 50 day moving average of $1.42 and a two-hundred day moving average of $1.34.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com upgraded Precigen to a “sell” rating in a research note on Tuesday, March 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price target on shares of Precigen in a research report on Wednesday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Precigen in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of Precigen in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of Precigen from a “neutral” rating to an “underweight” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, Precigen presently has an average rating of “Hold” and a consensus target price of $9.00.

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.