Repligen (RGEN) Receives New Coverage from Analysts at HC Wainwright
HC Wainwright assumed coverage on shares of Repligen (NASDAQ:RGEN) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued a neutral rating and a $49.00 price objective on the biotechnology company’s stock.
“We utilize a discounted cash flow (DCF)-driven analysis approach to value Repligen shares. Our assessment yields an enterprise value of roughly $2.1B, driven by peak sales in the protein, filtration and chromatography businesses of $55M, $348M and $94M, respectively. We utilize a 9% discount rate and 29% effective tax rate. This yields a market value of the firm of $2.1B, assuming roughly $100M in debt and $174M in cash as of mid-2019. Given the projected 44M shares outstanding as of mid-2019, this yields a price objective of roughly $49 per share.”,” HC Wainwright’s analyst wrote.
RGEN has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price target on Repligen to $60.00 and gave the stock an overweight rating in a research report on Monday. BidaskClub lowered Repligen from a strong-buy rating to a buy rating in a research report on Tuesday. ValuEngine upgraded Repligen from a hold rating to a buy rating in a research report on Thursday, June 28th. Citigroup increased their price target on Repligen from $45.00 to $56.00 and gave the stock a buy rating in a research report on Friday, July 20th. Finally, Zacks Investment Research lowered Repligen from a hold rating to a sell rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Repligen has an average rating of Buy and an average price target of $49.38.
Repligen (NASDAQ:RGEN) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The business had revenue of $47.73 million for the quarter, compared to the consensus estimate of $45.84 million. Repligen had a return on equity of 5.05% and a net margin of 13.49%. The firm’s revenue was up 47.0% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. research analysts anticipate that Repligen will post 0.71 earnings per share for the current year.
In other Repligen news, CEO Anthony Hunt sold 27,566 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $57.71, for a total value of $1,590,833.86. Following the transaction, the chief executive officer now directly owns 255,017 shares in the company, valued at approximately $14,717,031.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicolas Barthelemy sold 6,580 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $54.44, for a total value of $358,215.20. Following the completion of the transaction, the director now owns 8,774 shares in the company, valued at $477,656.56. The disclosure for this sale can be found here. Insiders sold a total of 88,884 shares of company stock worth $4,693,683 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Repligen in the 2nd quarter valued at $135,000. Smith Asset Management Group LP boosted its position in Repligen by 1,511.8% in the 2nd quarter. Smith Asset Management Group LP now owns 4,658 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 4,369 shares during the last quarter. Benin Management CORP bought a new position in Repligen in the 2nd quarter valued at $235,000. GSA Capital Partners LLP bought a new position in Repligen in the 2nd quarter valued at $250,000. Finally, Victory Capital Management Inc. boosted its position in Repligen by 38.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,755 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 1,612 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.
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.
See Also: Investing in Dividend Stocks
Receive News & Ratings for Repligen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Repligen and related companies with MarketBeat.com's FREE daily email newsletter.