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

Repligen (NASDAQ:RGEN) posted its quarterly earnings data on Tuesday. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09, Briefing.com reports. Repligen had a negative net margin of 0.32% and a positive return on equity of 3.36%. The firm had revenue of $154.87 million for the quarter, compared to the consensus estimate of $153.34 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’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 Price Performance

Repligen stock opened at $147.00 on Wednesday. The firm has a fifty day simple moving average of $141.34 and a two-hundred day simple moving average of $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.

Insider Activity

In other Repligen news, Director Anthony Hunt sold 22,191 shares of the stock in a transaction on 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 completion of the sale, the director now owns 139,840 shares of the company’s stock, valued at $20,328,540.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

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