Precigen (NASDAQ:PGEN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Precigen (NASDAQ:PGEN) announced its earnings results on Wednesday. The biotechnology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business had revenue of $1.19 million for the quarter, compared to the consensus estimate of $1.30 million.

Precigen Trading Up 0.6 %

PGEN opened at $1.80 on Friday. The stock has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $1.15. The company has a market cap of $527.16 million, a price-to-earnings ratio of -3.27 and a beta of 1.58. Precigen has a 12-month low of $0.65 and a 12-month high of $2.17.

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 objective on shares of Precigen in a research report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Precigen in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.