Repligen (NASDAQ:RGEN) Announces Earnings Results, Meets Estimates

Repligen (NASDAQ:RGEN) released its quarterly earnings results on Tuesday. The biotechnology company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33, Briefing.com reports. Repligen had a return on equity of 3.95% and a net margin of 2.44%. The business had revenue of $154.07 million during the quarter, compared to analyst estimates of $154.11 million. During the same quarter in the prior year, the company posted $0.53 EPS. Repligen’s quarterly revenue was down 3.2% compared to the same quarter last year. Repligen updated its FY24 guidance to $1.42-1.49 EPS and its FY 2024 guidance to 1.420-1.490 EPS.

Repligen Stock Performance

Shares of NASDAQ RGEN traded up $2.01 during trading on Wednesday, reaching $162.60. 38,544 shares of the company traded hands, compared to its average volume of 624,833. The company has a quick ratio of 5.24, a current ratio of 6.35 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $134.67 and a 200-day simple moving average of $166.12. Repligen has a 52-week low of $110.45 and a 52-week high of $211.13. The stock has a market capitalization of $9.09 billion, a PE ratio of 642.39, a P/E/G ratio of 4.62 and a beta of 0.95.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Repligen in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Repligen from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Repligen from a “hold” rating to a “buy” rating and reduced their price target for the company from $180.00 to $155.00 in a research report on Wednesday, June 26th. Finally, Guggenheim started coverage on shares of Repligen in a report on Tuesday, June 18th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.25.

Insider Activity at Repligen

In other Repligen news, CEO Anthony Hunt sold 20,072 shares of Repligen stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $168.26, for a total value of $3,377,314.72. Following the completion of the sale, the chief executive officer now owns 163,177 shares of the company’s stock, valued at approximately $27,456,162.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Anthony Hunt sold 20,072 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $168.26, for a total transaction of $3,377,314.72. Following the completion of the sale, the chief executive officer now owns 163,177 shares of the company’s stock, valued at approximately $27,456,162.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin D. Madaus acquired 1,615 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $124.94 per share, for a total transaction of $201,778.10. Following the acquisition, the director now owns 4,613 shares of the company’s stock, valued at approximately $576,348.22. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

About Repligen

Repligen Corporation develops and commercializes bioprocessing technologies and systems for use in biological drug manufacturing process in North America, Europe, the Asia Pacific, and internationally. It offers Protein A ligands that are the binding components of Protein A affinity chromatography resins; and cell culture growth factor products.