Repligen (NASDAQ:RGEN) Issues Earnings Results

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

Repligen Price Performance

Shares of RGEN traded up $6.63 during mid-day trading on Thursday, reaching $164.99. 514,690 shares of the stock traded hands, compared to its average volume of 537,953. The firm has a fifty day moving average price of $181.94 and a 200 day moving average price of $173.85. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 226.23, a price-to-earnings-growth ratio of 5.38 and a beta of 1.03. The company has a current ratio of 7.02, a quick ratio of 5.75 and a debt-to-equity ratio of 0.26. Repligen has a 1 year low of $110.45 and a 1 year high of $211.13.

Analyst Upgrades and Downgrades

RGEN has been the topic of several analyst reports. Stifel Nicolaus upped their target price on Repligen from $165.00 to $207.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. KeyCorp increased their target price on Repligen from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on Repligen from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Repligen has an average rating of “Moderate Buy” and an average target price of $195.70.

Insider Activity

In other news, VP Ralf Kuriyel sold 3,517 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $193.73, for a total transaction of $681,348.41. Following the completion of the transaction, the vice president now directly owns 24,260 shares in the company, valued at approximately $4,699,889.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Ralf Kuriyel sold 3,517 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $193.73, for a total value of $681,348.41. Following the completion of the transaction, the vice president now directly owns 24,260 shares in the company, valued at $4,699,889.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Hunt sold 16,707 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $197.44, for a total transaction of $3,298,630.08. Following the transaction, the chief executive officer now directly owns 185,249 shares of the company’s stock, valued at $36,575,562.56. The disclosure for this sale can be found here. Insiders sold 25,597 shares of company stock worth $5,039,532 in the last three months. Corporate 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.