Repligen (RGEN) Rating Lowered to Hold at Zacks Investment Research
Repligen (NASDAQ:RGEN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
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. “
RGEN has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Repligen from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. CL King cut Repligen from a “buy” rating to a “neutral” rating in a research note on Monday, November 12th. Janney Montgomery Scott reissued a “buy” rating on shares of Repligen in a research note on Thursday, October 4th. HC Wainwright reissued a “hold” rating and issued a $60.00 target price on shares of Repligen in a research note on Monday, November 5th. Finally, BidaskClub raised Repligen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 16th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $59.20.
Repligen (NASDAQ:RGEN) last released its earnings results on Thursday, November 1st. The biotechnology company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $49.53 million for the quarter, compared to analysts’ expectations of $46.69 million. Repligen had a return on equity of 5.39% and a net margin of 12.61%. The firm’s revenue was up 35.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts forecast that Repligen will post 0.73 EPS for the current year.
In other news, CFO Jon Snodgres sold 31,753 shares of the firm’s stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $63.49, for a total transaction of $2,015,997.97. Following the transaction, the chief financial officer now directly owns 32,344 shares of the company’s stock, valued at $2,053,520.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas F. Ryan, Jr. sold 1,763 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $65.75, for a total value of $115,917.25. Following the transaction, the director now directly owns 3,225 shares in the company, valued at $212,043.75. The disclosure for this sale can be found here. Insiders have sold 33,827 shares of company stock worth $2,148,846 over the last ninety days. Insiders own 1.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Repligen by 6.2% during the third quarter. BlackRock Inc. now owns 6,212,759 shares of the biotechnology company’s stock valued at $344,558,000 after buying an additional 361,598 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 period. Vanguard Group Inc boosted its holdings in shares of 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 period. Conestoga Capital Advisors LLC boosted its holdings in shares of Repligen by 13.4% during the third quarter. Conestoga Capital Advisors LLC now owns 1,941,212 shares of the biotechnology company’s stock worth $107,660,000 after purchasing an additional 230,080 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in shares of Repligen by 7.8% during the third quarter. Macquarie Group Ltd. now owns 1,194,430 shares of the biotechnology company’s stock worth $66,243,000 after purchasing an additional 86,739 shares during the period. 94.35% of the stock is currently 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 worldwide. 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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