Zacks Investment Research Lowers Repligen (NASDAQ:RGEN) to Hold
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 subject of several other research reports. BidaskClub downgraded shares of Waterstone Financial from a “hold” rating to a “sell” rating in a research note on Friday, June 21st. ValuEngine raised shares of United Overseas Bank from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.50.
Repligen (NASDAQ:RGEN) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $60.63 million during the quarter, compared to the consensus estimate of $55.09 million. Repligen had a net margin of 10.11% and a return on equity of 6.35%. The firm’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. As a group, research analysts predict that Repligen will post 0.94 earnings per share for the current fiscal year.
In other news, Director Glenn L. Md Cooper sold 5,000 shares of Repligen stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $66.94, for a total transaction of $334,700.00. Following the completion of the sale, the director now owns 35,975 shares of the company’s stock, valued at $2,408,166.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen A. Dawes sold 1,295 shares of Repligen stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $77.35, for a total transaction of $100,168.25. Following the sale, the director now directly owns 118,329 shares of the company’s stock, valued at approximately $9,152,748.15. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of RGEN. Sheets Smith Wealth Management acquired a new position in Repligen during the second quarter valued at $548,000. Copper Rock Capital Partners LLC purchased a new stake in shares of Repligen during the second quarter worth about $25,740,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Repligen during the first quarter worth about $2,925,000. Westpac Banking Corp grew its stake in Repligen by 9.3% during the 1st quarter. Westpac Banking Corp now owns 94,885 shares of the biotechnology company’s stock valued at $5,606,000 after acquiring an additional 8,100 shares in the last quarter. Finally, American Capital Management Inc. grew its stake in Repligen by 3.8% during the 1st quarter. American Capital Management Inc. now owns 73,340 shares of the biotechnology company’s stock valued at $4,333,000 after acquiring an additional 2,665 shares in the last quarter. 84.90% of the stock is 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 in North America, Europe, APAC, and internationally. 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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