Repligen (NASDAQ:RGEN) Issues Earnings Results, Hits Expectations

Repligen (NASDAQ:RGEN) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33, Briefing.com reports. The business had revenue of $154.07 million for the quarter, compared to analyst estimates of $154.11 million. Repligen had a negative net margin of 0.32% and a positive return on equity of 3.36%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Repligen updated its FY24 guidance to $1.42-1.49 EPS and its FY 2024 guidance to 1.420-1.490 EPS.

Repligen Stock Down 1.2 %

Shares of RGEN traded down $2.06 during trading hours on Thursday, hitting $165.29. The company had a trading volume of 370,750 shares, compared to its average volume of 634,604. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 669.40, a P/E/G ratio of 5.37 and a beta of 0.95. The firm has a fifty day moving average price of $134.71 and a 200-day moving average price of $166.13. Repligen has a 52-week low of $110.45 and a 52-week high of $211.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.24 and a current ratio of 6.35.

Analyst Upgrades and Downgrades

RGEN has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and set a $170.00 price target on shares of Repligen in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Repligen from a “hold” rating to a “buy” rating and decreased their price target for the stock from $180.00 to $155.00 in a research note on Wednesday, June 26th. UBS Group cut their price objective on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Repligen from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Guggenheim initiated coverage on Repligen in a research report on Tuesday, June 18th. They set a “neutral” rating on the stock. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.88.

Insider Activity at Repligen

In other news, Director Martin D. Madaus bought 1,615 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $124.94 per share, with a total value of $201,778.10. Following the completion of the acquisition, the director now owns 4,613 shares of the company’s stock, valued at $576,348.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Repligen news, Director Martin D. Madaus bought 1,615 shares of Repligen stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $124.94 per share, with a total value of $201,778.10. Following the acquisition, the director now owns 4,613 shares in the company, valued at $576,348.22. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Hunt purchased 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $124.08 per share, for a total transaction of $248,160.00. Following the completion of the acquisition, the chief executive officer now owns 165,177 shares of the company’s stock, valued at $20,495,162.16. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Repligen Company Profile

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.