Repligen Corporation (NASDAQ:RGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, May 11th. The brokerage currently has a $43.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.48% from the stock’s previous close.
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. “
Separately, First Analysis reiterated an “equal weight” rating and set a $40.00 price target on shares of Repligen Corporation in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Repligen Corporation has an average rating of “Buy” and a consensus target price of $37.25.
Shares of Repligen Corporation (NASDAQ:RGEN) opened at 38.23 on Thursday. Repligen Corporation has a 12-month low of $21.45 and a 12-month high of $40.48. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 100.87 and a beta of 1.30. The stock’s 50 day moving average is $38.53 and its 200-day moving average is $33.91.
Repligen Corporation (NASDAQ:RGEN) last announced its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Repligen Corporation had a net margin of 11.93% and a return on equity of 9.57%. The business had revenue of $30.59 million during the quarter, compared to analysts’ expectations of $29.28 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts expect that Repligen Corporation will post $0.56 earnings per share for the current year.
In other news, VP Howard Benjamin sold 12,216 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $34.62, for a total value of $422,917.92. Following the completion of the transaction, the vice president now owns 36,124 shares of the company’s stock, valued at $1,250,612.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karen A. Dawes sold 2,521 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $34.12, for a total transaction of $86,016.52. Following the completion of the transaction, the director now directly owns 95,764 shares of the company’s stock, valued at approximately $3,267,467.68. The disclosure for this sale can be found here. In the last three months, insiders sold 18,737 shares of company stock valued at $648,254. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC purchased a new position in shares of Repligen Corporation during the third quarter worth about $415,000. UBS Asset Management Americas Inc. increased its position in shares of Repligen Corporation by 11.2% in the third quarter. UBS Asset Management Americas Inc. now owns 22,800 shares of the biotechnology company’s stock worth $688,000 after buying an additional 2,300 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Repligen Corporation by 7.4% in the third quarter. BlackRock Fund Advisors now owns 2,740,405 shares of the biotechnology company’s stock worth $82,733,000 after buying an additional 188,477 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Repligen Corporation by 18.5% in the third quarter. New York State Common Retirement Fund now owns 84,951 shares of the biotechnology company’s stock worth $2,565,000 after buying an additional 13,285 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Repligen Corporation by 4.2% in the third quarter. Rhumbline Advisers now owns 62,801 shares of the biotechnology company’s stock worth $1,896,000 after buying an additional 2,530 shares in the last quarter. Institutional investors own 97.06% of the company’s stock.
Repligen Corporation Company Profile
Repligen Corporation is a bioprocessing company. The Company is focused on the development, manufacture and commercialization of products used to improve the interconnected phases of the biological drug manufacturing process. The Company’s portfolio includes protein products, chromatography products, and filtration products.
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