Israeli biotech firm Evogene's Q3 revenue misses estimates due to reduced seed sales
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Israeli biotech firm Evogene's Q3 revenue missed estimates due to reduced seed sales from Casterra. Despite this, operating expenses decreased significantly due to a strategic transition and cost-reduction plan, leading to improved net income from discontinued operations after asset sales. The company plans to maintain reduced expenses and generate future revenue through Casterra initiatives. The only analyst rating is "buy," with a 12-month price target of $2.50, 53.2% above the current price.
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