Repligen (NASDAQ:RGEN) Posts Earnings Results, Meets Expectations

Repligen (NASDAQ:RGEN) announced its quarterly earnings data 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 company had revenue of $154.07 million for the quarter, compared to analysts’ expectations of $154.11 million. Repligen had a return on equity of 3.95% and a net margin of 2.44%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 Performance

Shares of RGEN traded up $5.51 during mid-day trading on Wednesday, hitting $166.10. The stock had a trading volume of 318,325 shares, compared to its average volume of 626,749. The firm has a market cap of $9.28 billion, a P/E ratio of 668.43, a PEG ratio of 4.62 and a beta of 0.95. The business has a fifty day moving average price of $134.67 and a 200-day moving average price of $166.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.35 and a quick ratio of 5.24. Repligen has a 52 week low of $110.45 and a 52 week high of $211.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Repligen from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Stephens restated an “overweight” rating and issued a $170.00 target price on shares of Repligen in a report on Tuesday. Guggenheim initiated coverage on Repligen in a report on Tuesday, June 18th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Repligen from a “hold” rating to a “buy” rating and dropped their price target for the stock from $180.00 to $155.00 in a report on Wednesday, June 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $190.00 price target on shares of Repligen in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.00.

Insider Buying and Selling at Repligen

In other Repligen news, CEO Anthony Hunt sold 20,072 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $168.26, for a total value of $3,377,314.72. Following the sale, the chief executive officer now directly owns 163,177 shares in the company, valued at $27,456,162.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Repligen news, CEO Anthony Hunt sold 20,072 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $168.26, for a total value of $3,377,314.72. Following the sale, the chief executive officer now directly owns 163,177 shares in the company, valued at $27,456,162.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martin D. Madaus purchased 1,615 shares of Repligen stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $124.94 per share, with a total value of $201,778.10. Following the completion of the transaction, 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. Corporate insiders own 1.20% of the company’s stock.

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.