Zacks Investment Research downgraded shares of Repligen (NASDAQ:RGEN) from a buy rating to a hold rating in a research report released on Wednesday morning.
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. “
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Repligen from a strong-buy rating to a buy rating in a research report on Tuesday, September 25th. HC Wainwright initiated coverage on shares of Repligen in a research report on Wednesday, September 26th. They issued a neutral rating and a $49.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Repligen from $60.00 to $70.00 and gave the company an overweight rating in a research report on Friday, November 2nd. ValuEngine upgraded shares of Repligen from a buy rating to a strong-buy rating in a research report on Tuesday, October 23rd. Finally, Janney Montgomery Scott reiterated a buy rating on shares of Repligen in a research report on Thursday, October 4th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $59.33.
RGEN traded down $1.14 during midday trading on Wednesday, hitting $67.74. 428,578 shares of the company traded hands, compared to its average volume of 609,024. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 93.12, a PEG ratio of 5.33 and a beta of 0.74. Repligen has a 52-week low of $29.56 and a 52-week high of $70.50.
Repligen (NASDAQ:RGEN) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $49.53 million for the quarter, compared to the consensus estimate of $46.69 million. Repligen had a net margin of 12.61% and a return on equity of 5.39%. The company’s revenue was up 35.4% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, sell-side analysts expect that Repligen will post 0.73 earnings per share for the current fiscal year.
In related news, Director Thomas F. Ryan, Jr. sold 2,366 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $51.44, for a total transaction of $121,707.04. Following the completion of the sale, the director now directly owns 4,988 shares in the company, valued at $256,582.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas F. Ryan, Jr. sold 1,763 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $65.75, for a total transaction of $115,917.25. Following the sale, the director now owns 3,225 shares of the company’s stock, valued at $212,043.75. The disclosure for this sale can be found here. Insiders sold 52,735 shares of company stock valued at $2,950,017 over the last quarter. Company insiders own 1.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Repligen by 2.5% during the third quarter. American International Group Inc. now owns 30,684 shares of the biotechnology company’s stock worth $1,702,000 after purchasing an additional 746 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Repligen by 17.1% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,307 shares of the biotechnology company’s stock worth $516,000 after purchasing an additional 1,358 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in Repligen by 21.7% during the second quarter. Meadow Creek Investment Management LLC now owns 7,840 shares of the biotechnology company’s stock worth $369,000 after purchasing an additional 1,400 shares during the last quarter. Legal & General Group Plc increased its position in Repligen by 2.0% during the first quarter. Legal & General Group Plc now owns 77,094 shares of the biotechnology company’s stock worth $2,771,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Repligen by 24.0% during the second quarter. Brown Advisory Inc. now owns 8,640 shares of the biotechnology company’s stock worth $406,000 after purchasing an additional 1,673 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process worldwide. It offers Protein A ligands to life sciences companies, which are the binding components of Protein A affinity resins; and growth factor products used to supplement cell culture media.
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