Repligen (NASDAQ:RGEN) Shares Gap Up After Better-Than-Expected Earnings

Repligen Co. (NASDAQ:RGEN)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $139.51, but opened at $147.50. Repligen shares last traded at $149.99, with a volume of 93,024 shares trading hands.

The biotechnology company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.34 by $0.09. The business had revenue of $154.87 million during the quarter, compared to the consensus estimate of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. Repligen’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RGEN shares. Wolfe Research started coverage on Repligen in a research note on Thursday. They set a “peer perform” rating on the stock. UBS Group dropped their target price on Repligen from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Stephens reissued an “overweight” rating and issued a $170.00 target price on shares of Repligen in a research report on Tuesday, July 30th. StockNews.com raised shares of Repligen from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Benchmark reissued a “hold” rating on shares of Repligen in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.25.

Insider Activity

In related news, Director Anthony Hunt sold 22,191 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total value of $3,225,905.67. Following the sale, the director now directly owns 139,840 shares of the company’s stock, valued at $20,328,540.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Repligen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Andra AP fonden bought a new stake in Repligen in the second quarter valued at approximately $25,000. Lazard Asset Management LLC raised its stake in Repligen by 206.1% during the first quarter. Lazard Asset Management LLC now owns 202 shares of the biotechnology company’s stock worth $36,000 after buying an additional 136 shares during the last quarter. UMB Bank n.a. lifted its holdings in Repligen by 138.3% in the third quarter. UMB Bank n.a. now owns 224 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 130 shares during the period. Blue Trust Inc. boosted its position in Repligen by 113.4% during the third quarter. Blue Trust Inc. now owns 239 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Repligen during the 2nd quarter worth about $33,000. Institutional investors own 97.64% of the company’s stock.

Repligen Price Performance

The business has a 50 day moving average price of $141.59 and a 200-day moving average price of $144.78. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of -406.66, a P/E/G ratio of 4.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65.

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.