Precigen price target raised to $10 from $7 at Stifel

Stifel raised the firm’s price target on Precigen (PGEN) to $10 from $7 and keeps a Buy rating on the shares after the company disclosed Phase 2 PRGN-2012 data at ASCO. The data “look like a best-case scenario,” with the pivotal cohort essentially replicating the early Phase 1 data, says the firm, which is moving its view on the odds of success to 95% and assuming orphan-drug pricing of $300,000 per patient. Regarding competition, Inovio’s (INO) INO-3107 has also shown efficacy in RRP, though the firm believes PRGN-2012 has the advantage for “a few reasons,” the analyst tells investors.