Repligen (RGEN) Upgraded at Zacks Investment Research
Repligen (NASDAQ:RGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $80.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 18.15% from the stock’s current price.
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. “
Several other analysts have also recently commented on the company. ValuEngine cut Repligen from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. BidaskClub cut Repligen from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Repligen has a consensus rating of “Buy” and an average price target of $64.20.
Repligen (NASDAQ:RGEN) last announced its earnings results on Thursday, May 9th. The biotechnology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $60.63 million for the quarter, compared to the consensus estimate of $55.09 million. Repligen had a return on equity of 6.35% and a net margin of 10.11%. The company’s revenue was up 35.3% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities analysts expect that Repligen will post 0.9 EPS for the current year.
In related news, VP Ralf Kuriyel sold 2,240 shares of Repligen stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $58.53, for a total transaction of $131,107.20. Following the completion of the transaction, the vice president now directly owns 21,043 shares of the company’s stock, valued at $1,231,646.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jon Snodgres sold 1,875 shares of Repligen stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $58.88, for a total value of $110,400.00. Following the transaction, the chief financial officer now directly owns 26,821 shares of the company’s stock, valued at $1,579,220.48. The disclosure for this sale can be found here. Insiders sold a total of 48,437 shares of company stock valued at $2,855,032 over the last three months. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of RGEN. Vanguard Group Inc. raised its holdings in Repligen by 28.4% during the third quarter. Vanguard Group Inc. now owns 3,923,135 shares of the biotechnology company’s stock worth $217,577,000 after purchasing an additional 868,093 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Repligen by 286.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 733,291 shares of the biotechnology company’s stock worth $38,674,000 after purchasing an additional 543,443 shares during the last quarter. Ardevora Asset Management LLP raised its holdings in Repligen by 471.7% during the fourth quarter. Ardevora Asset Management LLP now owns 612,077 shares of the biotechnology company’s stock worth $32,281,000 after purchasing an additional 505,020 shares during the last quarter. Voya Investment Management LLC raised its holdings in Repligen by 2,173.8% during the first quarter. Voya Investment Management LLC now owns 374,219 shares of the biotechnology company’s stock worth $22,109,000 after purchasing an additional 357,761 shares during the last quarter. Finally, Norges Bank acquired a new position in Repligen during the fourth quarter worth $18,352,000. 90.89% of the stock is owned by hedge funds and other institutional investors.
Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process in North America, Europe, APAC, and internationally. 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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