HC Wainwright assumed coverage on shares of Repligen (NASDAQ:RGEN) in a report released on Wednesday, MarketBeat reports. The brokerage issued a neutral rating and a $49.00 price objective on the biotechnology company’s stock.
“We utilize a discounted cash flow (DCF)-driven analysis approach to value Repligen shares. Our assessment yields an enterprise value of roughly $2.1B, driven by peak sales in the protein, filtration and chromatography businesses of $55M, $348M and $94M, respectively. We utilize a 9% discount rate and 29% effective tax rate. This yields a market value of the firm of $2.1B, assuming roughly $100M in debt and $174M in cash as of mid-2019. Given the projected 44M shares outstanding as of mid-2019, this yields a price objective of roughly $49 per share.”,” the firm’s analyst commented.
Several other equities analysts have also recently weighed in on the company. BidaskClub cut Repligen from a strong-buy rating to a buy rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Repligen to $60.00 and gave the stock an overweight rating in a research report on Monday. Zacks Investment Research cut Repligen from a hold rating to a sell rating in a research report on Tuesday, August 7th. Citigroup boosted their price objective on Repligen from $45.00 to $56.00 and gave the stock a buy rating in a research report on Friday, July 20th. Finally, Stephens boosted their price objective on Repligen from $50.00 to $55.00 and gave the stock an average rating in a research report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Repligen currently has a consensus rating of Buy and an average price target of $49.38.
Repligen (NASDAQ:RGEN) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Repligen had a return on equity of 5.05% and a net margin of 13.49%. The business had revenue of $47.73 million for the quarter, compared to analyst estimates of $45.84 million. During the same period in the prior year, the firm posted $0.20 EPS. Repligen’s revenue for the quarter was up 47.0% on a year-over-year basis. sell-side analysts predict that Repligen will post 0.71 earnings per share for the current fiscal year.
In other Repligen news, major shareholder Roy T. Eddleman sold 4,770 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $49.05, for a total value of $233,968.50. Following the completion of the transaction, the insider now owns 413,985 shares of the company’s stock, valued at approximately $20,305,964.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anthony Hunt sold 27,566 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $57.71, for a total value of $1,590,833.86. Following the completion of the transaction, the chief executive officer now directly owns 255,017 shares of the company’s stock, valued at approximately $14,717,031.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,884 shares of company stock valued at $4,693,683. Insiders own 1.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RGEN. SG Americas Securities LLC acquired a new position in Repligen in the 2nd quarter valued at approximately $135,000. Victory Capital Management Inc. grew its stake in shares of Repligen by 38.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,755 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 1,612 shares during the period. Smith Asset Management Group LP grew its stake in shares of Repligen by 1,511.8% in the 2nd quarter. Smith Asset Management Group LP now owns 4,658 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 4,369 shares during the period. Budros Ruhlin & Roe Inc. bought a new stake in shares of Repligen in the 1st quarter valued at approximately $220,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Repligen in the 1st quarter valued at approximately $228,000. 92.50% of the stock is owned by hedge funds and other institutional investors.
Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process worldwide. It offers Protein A ligands to life sciences companies, which are the binding components of Protein A affinity resins; and growth factor products used to supplement cell culture media.
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