Repligen (RGEN) Posts Earnings Results, Hits Expectations

Repligen (NASDAQ:RGEN) released its earnings results on Thursday. The biotechnology company reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21, MarketWatch Earnings reports. The company had revenue of $51.90 million for the quarter, compared to analysts’ expectations of $50.27 million. Repligen had a return on equity of 5.39% and a net margin of 12.61%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS. Repligen updated its FY 2019 guidance to $0.81-0.86 EPS and its FY19 guidance to $0.81-0.86 EPS.

RGEN traded down $2.39 during trading hours on Thursday, hitting $56.61. The stock had a trading volume of 20,242 shares, compared to its average volume of 254,928. Repligen has a 1 year low of $31.46 and a 1 year high of $70.50. The firm has a market cap of $2.61 billion, a P/E ratio of 81.99, a price-to-earnings-growth ratio of 3.99 and a beta of 1.04.

A number of equities research analysts have recently commented on RGEN shares. HC Wainwright reiterated a “hold” rating and set a $60.00 target price on shares of Repligen in a research note on Monday, November 5th. CL King cut Repligen from a “buy” rating to a “neutral” rating in a research note on Monday, November 12th. BidaskClub cut Repligen from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. JPMorgan Chase & Co. lifted their target price on Repligen from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research raised Repligen from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, November 28th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $59.20.

In related news, CFO Jon Snodgres sold 31,753 shares of Repligen stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $63.49, for a total value of $2,015,997.97. Following the completion of the sale, the chief financial officer now owns 32,344 shares of the company’s stock, valued at approximately $2,053,520.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of RGEN. Bank of America Corp DE grew its holdings in Repligen by 22.2% during the 2nd quarter. Bank of America Corp DE now owns 98,716 shares of the biotechnology company’s stock valued at $4,644,000 after buying an additional 17,923 shares in the last quarter. Millennium Management LLC purchased a new position in Repligen during the 2nd quarter valued at about $1,628,000. Bank of New York Mellon Corp grew its holdings in Repligen by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 498,849 shares of the biotechnology company’s stock valued at $23,466,000 after buying an additional 14,041 shares in the last quarter. Northern Trust Corp grew its holdings in Repligen by 5.2% during the 2nd quarter. Northern Trust Corp now owns 543,817 shares of the biotechnology company’s stock valued at $25,581,000 after buying an additional 27,062 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Repligen by 5.5% during the 3rd quarter. Aperio Group LLC now owns 44,515 shares of the biotechnology company’s stock valued at $2,469,000 after buying an additional 2,319 shares in the last quarter. 90.51% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This report was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.chaffeybreeze.com/2019/02/21/repligen-rgen-posts-earnings-results-hits-expectations.html.

About Repligen

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.

Featured Article: Marijuana Stocks Investing Considerations

Earnings History for Repligen (NASDAQ:RGEN)

Receive News & Ratings for Repligen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Repligen and related companies with MarketBeat.com's FREE daily email newsletter.