Repligen Corporation (RGEN) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Repligen Corporation (NASDAQ:RGEN) from a hold rating to a buy rating in a report released on Thursday. The brokerage currently has $43.00 price target on the biotechnology company’s stock.
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. “
A number of other research firms have also weighed in on RGEN. BidaskClub raised Repligen Corporation from a hold rating to a buy rating in a report on Wednesday, August 9th. William Blair initiated coverage on Repligen Corporation in a report on Friday, July 21st. They set an outperform rating on the stock. Jefferies Group LLC reissued a hold rating and set a $40.00 target price (up from $33.00) on shares of Repligen Corporation in a report on Wednesday, June 28th. TheStreet raised Repligen Corporation from a c+ rating to a b- rating in a report on Friday, August 11th. Finally, Stephens reissued an overweight rating and set a $50.00 target price on shares of Repligen Corporation in a report on Tuesday, September 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $45.40.
Repligen Corporation (RGEN) traded up 0.29% during midday trading on Thursday, hitting $38.33. The stock had a trading volume of 269,728 shares. The firm has a 50-day moving average price of $41.66 and a 200-day moving average price of $39.55. Repligen Corporation has a 1-year low of $26.16 and a 1-year high of $46.81. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 75.01 and a beta of 1.18.
Repligen Corporation (NASDAQ:RGEN) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $32.40 million for the quarter, compared to analyst estimates of $31.72 million. Repligen Corporation had a return on equity of 9.90% and a net margin of 15.61%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that Repligen Corporation will post $0.59 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of RGEN. Ameritas Investment Partners Inc. acquired a new position in Repligen Corporation in the 1st quarter valued at $103,000. Victory Capital Management Inc. grew its holdings in Repligen Corporation by 76.6% in the 1st quarter. Victory Capital Management Inc. now owns 3,400 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 1,475 shares in the last quarter. Quantbot Technologies LP acquired a new position in Repligen Corporation in the 2nd quarter valued at $120,000. Oppenheimer Asset Management Inc. acquired a new position in Repligen Corporation in the 2nd quarter valued at $123,000. Finally, JPMorgan Chase & Co. grew its holdings in Repligen Corporation by 31.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,755 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 908 shares in the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.
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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