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Stifel ups price target on Pricegen (NASDAQ: PGEN) as its lead therapy inches closer to U.S. FDA approval

Wed 16 Aug 23, 09:02 AM | Akanksha Vashisht

Stifel upgrades its price target on Pricegen as the company’s lead therapy shows prospects

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Summary

Biotechnology company Pricegen (NASDAQ: PGEN) received a price target increase from brokerage Stifel Nicolaus. The broker raised its price target on PGEN from US$6.30 to US$7 on August 9, 2023, the same day when Pricegen released its Q2 2023 results.

Pricegen reported a total revenue of US$1.76 million in Q2 2023 and a net loss of US$20.31 million for the quarter. Meanwhile, its cash and cash equivalents, short term and long-term investments totaled US$95.6 million as on June 30, 2023.

Data available on Refinitiv suggests that the mean recommendation rating on the stock is 2, on a scale of one to five. Here one represents a ‘strong buy’ rating and five represents a ‘strong sell' rating.

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