Repligen (NASDAQ:RGEN) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Repligen (NASDAQ:RGEN) posted its earnings results on Tuesday. The biotechnology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.09, Briefing.com reports. The firm had revenue of $154.87 million for the quarter, compared to analyst estimates of $153.34 million. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Repligen updated its FY24 guidance to $1.50-1.58 EPS and its FY 2024 guidance to 1.500-1.580 EPS.

Repligen Stock Performance

Shares of NASDAQ RGEN opened at $148.59 on Wednesday. The business’s 50 day moving average price is $141.34 and its two-hundred day moving average price is $144.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.65 and a quick ratio of 5.56. Repligen has a twelve month low of $113.50 and a twelve month high of $211.13.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 target price on shares of Repligen in a report on Thursday, September 26th. Stephens restated an “overweight” rating and issued a $170.00 price target on shares of Repligen in a report on Tuesday, July 30th. Benchmark restated a “hold” rating on shares of Repligen in a report on Monday, August 5th. UBS Group cut their price target on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on Repligen in a report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Repligen currently has an average rating of “Moderate Buy” and a consensus target price of $190.25.

Insiders Place Their Bets

In other Repligen news, Director Anthony Hunt sold 22,191 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total transaction of $3,225,905.67. Following the transaction, the director now owns 139,840 shares of the company’s stock, valued at $20,328,540.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.