Repligen (NASDAQ:RGEN) Shares Gap Up Following Better-Than-Expected Earnings

Repligen Co. (NASDAQ:RGEN)’s share price gapped up before the market opened 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 changing hands.

The biotechnology company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.09. The firm had revenue of $154.87 million during the quarter, compared to the consensus estimate of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on Repligen in a research note on Thursday. They issued a “peer perform” rating for the company. StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $205.00 target price on shares of Repligen in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Repligen currently has an average rating of “Moderate Buy” and a consensus price target of $190.25.

Insider Buying and Selling

In other news, Director Anthony Hunt sold 22,191 shares of Repligen stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Repligen

A number of hedge funds have recently modified their holdings of RGEN. Andra AP fonden purchased a new stake in Repligen in the second quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Repligen in the 2nd quarter worth about $33,000. UMB Bank n.a. increased its holdings in Repligen by 138.3% in the 3rd quarter. UMB Bank n.a. now owns 224 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 130 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Repligen by 206.1% during the first quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 136 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Repligen by 113.4% during the third quarter. Blue Trust Inc. now owns 239 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 127 shares during the period. Institutional investors own 97.64% of the company’s stock.

Repligen Price Performance

The firm’s 50 day moving average price is $141.59 and its two-hundred day moving average price is $144.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.65 and a quick ratio of 5.56. The stock has a market cap of $8.43 billion, a PE ratio of -406.66, a P/E/G ratio of 4.27 and a beta of 0.96.

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.