Repligen (NASDAQ:RGEN) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Repligen (NASDAQ:RGEN) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $190.00 price target on the biotechnology company’s stock.

RGEN has been the topic of several other research reports. Guggenheim initiated coverage on Repligen in a report on Tuesday, June 18th. They set a neutral rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Repligen from $230.00 to $200.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Stephens restated an overweight rating and set a $170.00 price target on shares of Repligen in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded Repligen from a hold rating to a buy rating and dropped their price objective for the stock from $180.00 to $155.00 in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $189.57.

Repligen Stock Down 2.4 %

RGEN stock opened at $161.67 on Wednesday. The firm has a market cap of $9.06 billion, a PE ratio of 646.71, a PEG ratio of 5.98 and a beta of 0.95. Repligen has a 1 year low of $110.45 and a 1 year high of $211.13. The company has a fifty day simple moving average of $134.92 and a 200 day simple moving average of $166.00. The company has a current ratio of 6.65, a quick ratio of 5.24 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN) last announced its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $154.07 million during the quarter, compared to analysts’ expectations of $154.11 million. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts anticipate that Repligen will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Repligen news, CEO Anthony Hunt acquired 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $124.08 per share, for a total transaction of $248,160.00. Following the purchase, the chief executive officer now owns 165,177 shares in the company, valued at approximately $20,495,162.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Martin D. Madaus purchased 1,615 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $124.94 per share, with a total value of $201,778.10. Following the purchase, the director now directly owns 4,613 shares in the company, valued at $576,348.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Hunt acquired 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were bought at an average price of $124.08 per share, with a total value of $248,160.00. Following the completion of the purchase, the chief executive officer now directly owns 165,177 shares of the company’s stock, valued at $20,495,162.16. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Repligen

A number of hedge funds have recently made changes to their positions in RGEN. Norges Bank bought a new stake in Repligen during the fourth quarter worth about $48,208,000. Bank of New York Mellon Corp grew its position in Repligen by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,370,375 shares of the biotechnology company’s stock worth $172,749,000 after acquiring an additional 237,884 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in Repligen by 26.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 946,877 shares of the biotechnology company’s stock valued at $119,363,000 after purchasing an additional 199,322 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in Repligen by 448.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 112,863 shares of the biotechnology company’s stock valued at $20,293,000 after purchasing an additional 92,268 shares during the last quarter. Finally, Brown Capital Management LLC boosted its stake in Repligen by 5.8% in the fourth quarter. Brown Capital Management LLC now owns 1,525,064 shares of the biotechnology company’s stock worth $274,207,000 after purchasing an additional 83,416 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Repligen Company Profile

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.