Repligen (NASDAQ:RGEN) Issues Earnings Results

Repligen (NASDAQ:RGEN) released its earnings results on Wednesday. The biotechnology company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01), Briefing.com reports. The firm had revenue of $151.31 million for the quarter, compared to analyst estimates of $150.06 million. Repligen had a net margin of 6.51% and a return on equity of 5.00%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Repligen updated its FY24 guidance to $1.42-1.49 EPS and its FY 2024 guidance to 1.420-1.490 EPS.

Repligen Trading Up 3.5 %

Shares of RGEN traded up $5.48 during mid-day trading on Thursday, hitting $163.84. 359,265 shares of the company’s stock traded hands, compared to its average volume of 536,090. The firm has a market capitalization of $9.15 billion, a P/E ratio of 226.23, a PEG ratio of 5.38 and a beta of 1.03. The business’s 50-day moving average price is $181.94 and its 200-day moving average price is $173.85. Repligen has a 1 year low of $110.45 and a 1 year high of $211.13. The company has a quick ratio of 5.75, a current ratio of 7.02 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RGEN shares. Stifel Nicolaus raised their price objective on shares of Repligen from $165.00 to $207.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. KeyCorp lifted their price objective on Repligen from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their target price on Repligen from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Repligen currently has a consensus rating of “Moderate Buy” and an average target price of $195.70.

Insider Buying and Selling

In related news, CEO Anthony Hunt sold 16,707 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $197.44, for a total value of $3,298,630.08. Following the sale, the chief executive officer now directly owns 185,249 shares of the company’s stock, valued at $36,575,562.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Anthony Hunt sold 16,707 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $197.44, for a total value of $3,298,630.08. Following the sale, the chief executive officer now directly owns 185,249 shares of the company’s stock, valued at $36,575,562.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James Bylund sold 4,373 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $198.08, for a total value of $866,203.84. Following the completion of the sale, the chief operating officer now directly owns 14,135 shares in the company, valued at $2,799,860.80. The disclosure for this sale can be found here. Insiders have sold a total of 25,597 shares of company stock valued at $5,039,532 over the last ninety days. Company 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.