Repligen (NASDAQ:RGEN) Issues Quarterly Earnings Results

Repligen (NASDAQ:RGEN) released its earnings results on Tuesday. The biotechnology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09, Briefing.com reports. The firm had revenue of $154.87 million for the quarter, compared to analysts’ expectations of $153.34 million. Repligen had a positive return on equity of 3.92% and a negative net margin of 3.36%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. Repligen updated its FY24 guidance to $1.50-1.58 EPS and its FY 2024 guidance to 1.500-1.580 EPS.

Repligen Price Performance

NASDAQ:RGEN traded down $8.04 on Thursday, reaching $142.43. 748,275 shares of the company’s stock traded hands, compared to its average volume of 660,235. The stock has a 50-day simple moving average of $141.59 and a 200-day simple moving average of $144.78. Repligen has a 12 month low of $113.50 and a 12 month high of $211.13. The firm has a market cap of $7.98 billion, a PE ratio of -389.94, a P/E/G ratio of 4.27 and a beta of 0.96. The company has a quick ratio of 5.56, a current ratio of 6.65 and a debt-to-equity ratio of 0.26.

Wall Street Analyst Weigh In

RGEN has been the topic of several recent analyst reports. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Repligen in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a report on Wednesday. Wolfe Research began coverage on shares of Repligen in a research note on Thursday. They set a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Repligen in a report on Thursday, September 26th. Finally, UBS Group lowered their target price on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.25.

Insider Transactions at Repligen

In other news, Director Anthony Hunt sold 22,191 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 139,840 shares in the company, valued at $20,328,540.80. This trade represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.