Repligen (NASDAQ:RGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $74.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.97% from the stock’s previous close.
According to Zacks, “Repligen Corporation is a life sciences company focused on the development, production and commercialization of high-value consumable products used in the process of manufacturing biological drugs. Their bioprocessing products are sold to major life sciences and biopharmaceutical companies worldwide. They are a leading manufacturer of Protein A, a critical reagent used to separate and purify monoclonal antibody therapeutics. They also supply several growth factor products used to increase cell culture productivity during the fermentation stage of drug manufacturing. In addition, they have developed and marketed their OPUS® series of pre-packed plug-and-play chromatography columns, and they provide test kits to ensure final product quality. Aside from their core bioprocessing business, they have a portfolio of clinical-stage partnering assets, including a pancreatic imaging agent in Phase 3 development and an orphan drug candidate in Phase 1 development. “
Other equities research analysts have also recently issued research reports about the company. Stephens boosted their price objective on Repligen from $50.00 to $55.00 and gave the company an “average” rating in a research note on Tuesday, July 10th. Janney Montgomery Scott reiterated a “buy” rating on shares of Repligen in a research note on Thursday, October 4th. BidaskClub cut Repligen from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Citigroup boosted their price objective on Repligen from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, HC Wainwright set a $60.00 price objective on Repligen and gave the company a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.33.
Shares of NASDAQ RGEN opened at $67.29 on Tuesday. Repligen has a twelve month low of $29.56 and a twelve month high of $68.12. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 97.52, a PEG ratio of 5.22 and a beta of 0.74.
Repligen (NASDAQ:RGEN) last issued its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Repligen had a return on equity of 5.39% and a net margin of 12.61%. The company had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $46.69 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. As a group, equities research analysts expect that Repligen will post 0.73 EPS for the current year.
In other news, major shareholder Roy T. Eddleman sold 4,770 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.05, for a total transaction of $233,968.50. Following the completion of the sale, the insider now owns 413,985 shares in the company, valued at $20,305,964.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas F. Ryan, Jr. sold 2,366 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $51.44, for a total value of $121,707.04. Following the sale, the director now owns 4,988 shares of the company’s stock, valued at approximately $256,582.72. The disclosure for this sale can be found here. Insiders have sold 55,742 shares of company stock valued at $3,068,068 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its stake in shares of Repligen by 21.7% during the second quarter. Meadow Creek Investment Management LLC now owns 7,840 shares of the biotechnology company’s stock worth $369,000 after purchasing an additional 1,400 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Repligen by 2.0% during the first quarter. Legal & General Group Plc now owns 77,094 shares of the biotechnology company’s stock worth $2,771,000 after purchasing an additional 1,527 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Repligen by 24.0% during the second quarter. Brown Advisory Inc. now owns 8,640 shares of the biotechnology company’s stock worth $406,000 after purchasing an additional 1,673 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Repligen by 3.3% during the third quarter. Arizona State Retirement System now owns 56,556 shares of the biotechnology company’s stock worth $3,137,000 after purchasing an additional 1,818 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Repligen by 30.8% during the second quarter. Envestnet Asset Management Inc. now owns 8,021 shares of the biotechnology company’s stock worth $377,000 after purchasing an additional 1,891 shares during the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.
Repligen Company Profile
Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process worldwide. It offers Protein A ligands to life sciences companies, which are the binding components of Protein A affinity resins; and growth factor products used to supplement cell culture media.
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