Repligen Corp. Trading Up 5.5% on Strong Earnings (RGEN)
Repligen Corp. (NASDAQ:RGEN)’s share price was up 5.5% during mid-day trading on Monday following a stronger than expected earnings report, ARN reports. The stock traded as high as $23.69 and last traded at $22.46, with a volume of 224,029 shares trading hands. The stock had previously closed at $21.29.
The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.03. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $14.90 million. During the same quarter last year, the company posted $0.14 earnings per share.
A number of analysts have recently weighed in on RGEN shares. Analysts at Janney Montgomery Scott initiated coverage on shares of Repligen Corp. in a research note on Thursday, June 26th. They set a “buy” rating and a $26.00 price target on the stock. Analysts at Jefferies Group raised their price target on shares of Repligen Corp. from $20.00 to $22.00 in a research note on Wednesday, June 4th. They now have a “buy” rating on the stock.
The stock has a 50-day moving average of $22.54 and a 200-day moving average of $17.71. The company has a market cap of $721.5 million and a P/E ratio of 38.09.
Repligen Corporation is a United States-based life sciences company focused on the development, production and commercialization of products used in the process of manufacturing biological drugs.
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