Repligen Corporation (RGEN) Cut to Hold at Zacks Investment Research
Repligen Corporation (NASDAQ:RGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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. “
RGEN has been the subject of several other reports. BidaskClub lowered Repligen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. First Analysis reiterated an “equal weight” rating and issued a $40.00 price target on shares of Repligen Corporation in a research note on Friday, April 21st. William Blair initiated coverage on Repligen Corporation in a research note on Friday, July 21st. They issued an “outperform” rating for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $40.00 price target (up previously from $33.00) on shares of Repligen Corporation in a research note on Wednesday, June 28th. Finally, Janney Montgomery Scott increased their price target on Repligen Corporation from $42.00 to $47.00 in a research note on Friday, June 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $42.00.
Repligen Corporation (NASDAQ RGEN) opened at 39.71 on Friday. The stock has a 50 day moving average price of $41.60 and a 200 day moving average price of $36.97. Repligen Corporation has a 12 month low of $26.16 and a 12 month high of $46.81. The stock has a market capitalization of $1.48 billion, a PE ratio of 77.71 and a beta of 1.30.
Repligen Corporation (NASDAQ:RGEN) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $32.40 million during the quarter, compared to analyst estimates of $31.72 million. Repligen Corporation had a return on equity of 9.90% and a net margin of 15.61%. Repligen Corporation’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. On average, equities research analysts forecast that Repligen Corporation will post $0.59 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Repligen Corporation by 143,196.5% in the first quarter. BlackRock Inc. now owns 4,664,302 shares of the biotechnology company’s stock worth $164,187,000 after buying an additional 4,661,047 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Repligen Corporation by 35.1% in the first quarter. TimesSquare Capital Management LLC now owns 1,970,725 shares of the biotechnology company’s stock worth $69,370,000 after buying an additional 512,300 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Repligen Corporation by 49.8% in the second quarter. William Blair Investment Management LLC now owns 1,058,976 shares of the biotechnology company’s stock worth $43,884,000 after buying an additional 352,045 shares during the last quarter. PointState Capital LP purchased a new position in shares of Repligen Corporation during the second quarter worth $11,984,000. Finally, Norges Bank purchased a new position in shares of Repligen Corporation during the fourth quarter worth $8,527,000. Hedge funds and other institutional investors own 99.49% of the company’s stock.
About Repligen Corporation
Repligen Corporation is a bioprocessing company. The Company is focused on the development, manufacture and commercialization of products used to improve the interconnected phases of the biological drug manufacturing process. The Company’s portfolio includes protein products, chromatography products, and filtration products.
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