Repligen (NASDAQ:RGEN) Announces Earnings Results

Repligen (NASDAQ:RGEN) issued its earnings results on Tuesday. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09, Briefing.com reports. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. The business had revenue of $154.87 million during the quarter, compared to analysts’ expectations of $153.34 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Repligen updated its FY24 guidance to $1.50-1.58 EPS and its FY 2024 guidance to 1.500-1.580 EPS.

Repligen Stock Performance

Repligen stock traded down $5.65 during trading on Thursday, reaching $144.82. The company had a trading volume of 106,023 shares, compared to its average volume of 657,329. The firm’s 50-day simple moving average is $141.59 and its 200 day simple moving average is $144.78. Repligen has a 52 week low of $113.50 and a 52 week high of $211.13. The company has a current ratio of 6.65, a quick ratio of 5.56 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of -406.66, a price-to-earnings-growth ratio of 4.27 and a beta of 0.96.

Insiders Place Their Bets

In other news, Director Anthony Hunt sold 22,191 shares of Repligen stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total transaction of $3,225,905.67. Following the transaction, the director now directly owns 139,840 shares of the company’s stock, valued at $20,328,540.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RGEN. JPMorgan Chase & Co. boosted their price target on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wolfe Research started coverage on shares of Repligen in a research note on Thursday. They set a “peer perform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $205.00 price target on shares of Repligen in a research note on Thursday, September 26th. Wells Fargo & Company began coverage on shares of Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 price objective on the stock. Finally, Stephens restated an “overweight” rating and issued a $170.00 target price on shares of Repligen in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Repligen has a consensus rating of “Moderate Buy” and a consensus price target of $190.25.

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.