Precigen, Inc. (NASDAQ: PGEN)

Sector: Healthcare Industry: Biotechnology CIK: 0001356090
P/B 27.00
P/E -2.65
P/S 179.19
Market Cap 1.13 Bn
ROIC (Qtr) -216.46
Div Yield % 0.00
Rev 1y % (Qtr) 206.61
Total Debt (Qtr) 98.19 Mn
Debt/Equity (Qtr) 2.35

About

Precigen, Inc., a biopharmaceutical company (NASDAQ: PGEN), operates in the healthcare sector, specifically in the development of gene and cell therapies. The company's mission is to improve outcomes for patients with significant unmet medical needs by leveraging its proprietary technology platforms. These platforms are designed to enable precise control of gene expression and modification of biological molecules to treat underlying disease conditions. Precigen's technology platforms include UltraCAR-T, AdenoVerse immunotherapy, and ActoBiotics....

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Analysis

Pros

  • Healthy cash reserves of 14.32M provide 12.75x coverage of short-term debt 1.12M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 152.53M provide exceptional 265.27x coverage of deferred revenue 575000, showing strong service capability backing.
  • Operating cash flow of (72.61M) fully covers other non-current liabilities (317000) by 229.07x, showing strong long-term stability.
  • Short-term investments of 106.81M provide solid 4.33x coverage of other current liabilities 24.68M, indicating strong liquidity.
  • Tangible assets of 152.53M provide robust 6.18x coverage of other current liabilities 24.68M, indicating strong asset backing.

Cons

  • Operating cash flow of (72.61M) barely covers its investment activities of (106.77M), with a coverage ratio of 0.68, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (106.77M) provide weak support for R&D spending of 46.10M, which is -2.32x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (72.61M) provides insufficient coverage of deferred revenue obligations of 575000, which is -126.29x, raising concerns about future service delivery capabilities.
  • Short-term investments of 106.81M significantly exceed cash reserves of 14.32M, which is 7.46x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • The company's operating cash flow of (72.61M) shows concerning coverage of stock compensation expenses of 11.57M, with a -6.28 ratio indicating potential earnings quality issues.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 6.55 12.31
EV to Cash from Ops. -15.45 23.25
EV to Debt 11.43 738.44
EV to EBIT -4.56 -9.16
EV to EBITDA -9.79 6.95
EV to Free Cash Flow [EV/FCF] -14.84 21.90
EV to Market Cap 0.99 65.67
EV to Revenue 177.83 227.32
Price to Book Value [P/B] 27.00 22.34
Price to Earnings [P/E] -2.65 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio -2.38 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage -272.48 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % 64.66 -27.13
Cash and Equivalents Growth (1y) % -42.07 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % -76.25 -46.93
EBITDA Growth (1y) % 15.25 -1.68
EBIT Growth (1y) % -73.78 -56.45
EBT Growth (1y) % -74.40 -12.70
EPS Growth (1y) % -152.73 -28.31
FCF Growth (1y) % 10.19 -31.90
Gross Profit Growth (1y) % 488.03 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.04 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 0.45 3.85
Current Ratio 4.04 7.27
Debt to Equity Ratio 2.35 0.40
Interest Cover Ratio -272.48 841.00
Times Interest Earned -272.48 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % -3,856.80 -18,234.31
EBIT Margin % -3,899.94 -18,580.80
EBT Margin % -3,914.25 -19,488.74
Gross Margin % 30.30 -7.59
Net Profit Margin % -6,750.10 -19,439.22