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

Repligen (NASDAQ:RGEN) released its quarterly 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. Repligen had a positive return on equity of 3.36% and a negative net margin of 0.32%. The business had revenue of $154.87 million during the quarter, compared to analysts’ expectations of $153.34 million. During the same period last year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Repligen updated its FY24 guidance to $1.50-1.58 EPS and its FY 2024 guidance to 1.500-1.580 EPS.

Repligen Stock Down 1.1 %

NASDAQ:RGEN opened at $147.00 on Wednesday. The company has a current ratio of 6.65, a quick ratio of 5.56 and a debt-to-equity ratio of 0.26. Repligen has a one year low of $113.50 and a one year high of $211.13. The firm’s 50 day simple moving average is $141.34 and its 200 day simple moving average is $144.87.

Insider Activity

In related news, Director Anthony Hunt sold 22,191 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $145.37, for a total value of $3,225,905.67. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RGEN. Benchmark reissued a “hold” rating on shares of Repligen in a research report on Monday, August 5th. Wells Fargo & Company assumed coverage on shares of Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $205.00 price target on shares of Repligen in a research report on Thursday, September 26th. Finally, UBS Group dropped their price objective on Repligen from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.25.

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.