Citizens analyst Jason N. Butler raised the price target on Precigen Inc. (NASDAQ: PGEN) to $9.00 (from $8.00) while maintaining a Market Outperform rating.

The analyst commented, "PAPZIMEOS already stakes claim as front-line standard-of-care in RRP; we reiterate our Market Outperform rating and increase our risk-adjusted sum-of-the-parts derived price target to $9 from $8. Yesterday afternoon, Precigen reported 4Q25 business updates and financial results. Importantly, management provided guidance for 1Q26 PAPZIMEOS sales of >$18MM and reiterated that the company has sufficient funding through cash flow break-even. All key commercial metrics are impressive, in our view, including patient engagement/enrollment in hubs, reimbursement access, and advocacy support. Furthermore, engaged profiles are broad, including patients who have undergone many surgeries, as well as new/recently diagnosed patients. We continue to believe PAPZIMEOS has potential to dominate the RRP market as the first, and only, approved therapy for recurrent respiratory papillomatosis (RRP)."