Repligen (NASDAQ:RGEN) Posts Quarterly Earnings Results

Repligen (NASDAQ:RGEN) announced its earnings results on Tuesday. The biotechnology company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33, Briefing.com reports. Repligen had a negative net margin of 0.32% and a positive return on equity of 3.36%. The company had revenue of $154.07 million during the quarter, compared to analysts’ expectations of $154.11 million. During the same period last year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. 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 Repligen stock traded down $1.68 during midday trading on Thursday, hitting $165.67. The company had a trading volume of 998,880 shares, compared to its average volume of 638,877. The business’s 50 day simple moving average is $134.71 and its two-hundred day simple moving average is $166.13. The stock has a market cap of $9.26 billion, a PE ratio of 661.16, a P/E/G ratio of 5.37 and a beta of 0.95. 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 1-year low of $110.45 and a 1-year high of $211.13.

Insider Transactions at Repligen

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

Analyst Upgrades and Downgrades

Several research analysts have commented on RGEN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $190.00 target price on shares of Repligen in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Repligen from a “hold” rating to a “buy” rating and reduced their price target for the stock from $180.00 to $155.00 in a research report on Wednesday, June 26th. UBS Group reduced their price target on shares of Repligen from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim began coverage on shares of Repligen in a research report on Tuesday, June 18th. They issued a “neutral” rating for the company. Finally, Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Repligen in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Repligen presently has a consensus rating of “Moderate Buy” and an average price target of $190.88.

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.