Citizens Raises Papzimeos Sales Forecast After Precigen’s Q3 Topline Beat – Sees 142% Upside Potential In PGEN Stock

• Precigen reported Q3 revenue of $74.1 million, above Wall Street estimates of $71.6 million, according to Fiscal.ai.
• Precigen achieved its first-ever cash-flow-positive quarter ahead of guidance.
• The company posted net income of $35.8 million, compared with a net loss a year earlier.

Precigen (PGEN) was on investors’ radar on Thursday, after the biotech firm reported a better-than-expected third-quarter print led by sales of its recurrent respiratory papillomatosis (RRP) drug, prompting Citizens to raise its price target on the stock.

Citizens raised PGEN’s price target to $12 from $11 and maintained a ‘Market Outperform’ rating, according to Investing.com. The new target implies about 142% upside from current levels.

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Despite the earnings beat and the bullish analyst update, PGEN shares slid 2% in pre-market trading.

Citizens Sees Stronger Papzimeos Sales

Precigen reported Q3 revenue of $74.1 million, up from $2.9 million a year earlier, and above Wall Street estimates of $71.6 million, according to Fiscal.ai. Citizens said Papzimeos generated $72.9 million in sales, beating its $60 million forecast.

The company posted net income of $35.8 million, or $0.08 per share, compared with a net loss a year earlier. Crucially, Precigen generated $11.9 million in operating cash flow, achieving its first-ever cash-flow-positive quarter ahead of guidance. It held $51 million in cash, cash equivalents and investments as of Sept. 30.

Citizens Raises Papzimeos Sales Guidance

Citizens raised its Q4 sales forecast for the drug to $88 million from $65 million and increased its full-year 2027 estimate to $429 million from $303 million.

Papzimeos received FDA approval in August 2025 to treat adults with RRP, a rare HPV-related disease that causes recurring growths in the airways, potentially affecting breathing and speech.

Precigen is currently conducting a redosing study of Papzimeos while also seeking European approval for the drug. Its experimental cancer therapy PRGN-2009 is undergoing Phase 2 trials for HPV-related throat and cervical cancers. Citizens expects updated Phase 2 cancer data in Q4 of 2026.

Retail Says PGEN Is Undervalued

Despite the pre-market slide, retail sentiment on PGEN on Stocktwits remained ‘extremely bullish’ over the past 24 hours, while message volumes rose 225%.

One user called the stock ‘undervalued,’ adding that it should be worth at least $8.

PGEN shares have gained more than 18% so far this year.

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