Repligen (NASDAQ:RGEN) Shares Gap Up Following Earnings Beat

Repligen Co. (NASDAQ:RGEN)’s stock price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $139.51, but opened at $147.50. Repligen shares last traded at $149.99, with a volume of 93,024 shares trading hands.

The biotechnology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. 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 quarter in the prior year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RGEN shares. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Repligen in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Repligen in a research note on Monday, August 5th. Wells Fargo & Company assumed coverage on shares of Repligen in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 target price for the company. Finally, StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Repligen presently has an average rating of “Moderate Buy” and a consensus target price of $190.25.

Insider Activity at Repligen

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

Institutional Trading of Repligen

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Repligen by 30.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 28,883 shares of the biotechnology company’s stock valued at $5,312,000 after acquiring an additional 6,705 shares in the last quarter. Swedbank AB acquired a new stake in shares of Repligen during the 1st quarter worth approximately $5,518,000. Banque Pictet & Cie SA increased its stake in Repligen by 74.6% in the second quarter. Banque Pictet & Cie SA now owns 34,515 shares of the biotechnology company’s stock valued at $4,351,000 after acquiring an additional 14,746 shares during the last quarter. Vanguard Group Inc. raised its position in Repligen by 0.4% during the first quarter. Vanguard Group Inc. now owns 5,100,013 shares of the biotechnology company’s stock valued at $937,994,000 after purchasing an additional 21,719 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Repligen by 3.7% during the second quarter. Diversified Trust Co now owns 2,949 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 106 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Repligen Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of -406.66, a P/E/G ratio of 4.27 and a beta of 0.96. The stock has a fifty day simple moving average of $141.59 and a two-hundred day simple moving average of $144.78.

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.