Repligen (NASDAQ:RGEN) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Repligen (NASDAQ:RGEN) announced its quarterly earnings results on Tuesday. The biotechnology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09, Briefing.com reports. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.92%. The company had revenue of $154.87 million for the quarter, compared to analysts’ expectations of $153.34 million. During the same period in the prior year, the company posted $0.23 EPS. Repligen’s revenue 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 Trading Down 3.8 %

Shares of Repligen stock traded down $5.65 during midday trading on Thursday, reaching $144.82. 106,023 shares of the company’s stock traded hands, compared to its average volume of 657,329. The company has a market cap of $8.11 billion, a PE ratio of -406.66, a price-to-earnings-growth ratio of 4.27 and a beta of 0.96. The stock has a 50 day moving average of $141.59 and a 200-day moving average of $144.78. Repligen has a 12 month low of $113.50 and a 12 month high of $211.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.56 and a current ratio of 6.65.

Insider Buying and Selling at Repligen

In other news, Director Anthony Hunt sold 22,191 shares of Repligen stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $145.37, for a total transaction of $3,225,905.67. Following the sale, the director now owns 139,840 shares of the company’s stock, valued at approximately $20,328,540.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RGEN. Benchmark reissued a “hold” rating on shares of Repligen in a report on Monday, August 5th. UBS Group decreased their price objective on Repligen from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased 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. Wells Fargo & Company assumed coverage on shares of Repligen in a report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $205.00 target price on shares of Repligen in a report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Repligen currently has an average rating of “Moderate Buy” and an average price target of $190.25.

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.