Zacks Investment Research Upgrades Repligen (NASDAQ:RGEN) to Strong-Buy

Zacks Investment Research upgraded shares of Repligen (NASDAQ:RGEN) from a hold rating to a strong-buy rating in a research note published on Thursday, Zacks.com reports. The brokerage currently has $102.00 price target on the biotechnology company’s stock.

According to Zacks, “Repligen Corporation is a life sciences company focused on the development, production and commercialization of high-value consumable products used in the process of manufacturing biological drugs. Their bioprocessing products are sold to major life sciences and biopharmaceutical companies worldwide. They are a leading manufacturer of Protein A, a critical reagent used to separate and purify monoclonal antibody therapeutics. They also supply several growth factor products used to increase cell culture productivity during the fermentation stage of drug manufacturing. In addition, they have developed and marketed their OPUS® series of pre-packed plug-and-play chromatography columns, and they provide test kits to ensure final product quality. Aside from their core bioprocessing business, they have a portfolio of clinical-stage partnering assets, including a pancreatic imaging agent in Phase 3 development and an orphan drug candidate in Phase 1 development. “

RGEN has been the subject of a number of other research reports. ValuEngine raised shares of United Overseas Bank from a sell rating to a hold rating in a research note on Monday, June 17th. BidaskClub cut shares of Waterstone Financial from a hold rating to a sell rating in a research report on Friday, June 21st. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $77.33.

Shares of Repligen stock opened at $86.80 on Thursday. Repligen has a 52-week low of $45.00 and a 52-week high of $89.22. The stock has a market cap of $4.10 billion, a PE ratio of 118.90, a price-to-earnings-growth ratio of 5.24 and a beta of 1.10. The firm has a fifty day simple moving average of $80.78. The company has a quick ratio of 1.84, a current ratio of 2.18 and a debt-to-equity ratio of 0.03.

Repligen (NASDAQ:RGEN) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Repligen had a net margin of 10.11% and a return on equity of 6.35%. The company had revenue of $60.63 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter in the prior year, the company earned $0.17 EPS. The firm’s revenue was up 35.3% on a year-over-year basis. On average, analysts predict that Repligen will post 0.95 earnings per share for the current year.

In other Repligen news, Director Karen A. Dawes sold 1,295 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $77.35, for a total transaction of $100,168.25. Following the completion of the sale, the director now owns 118,329 shares of the company’s stock, valued at approximately $9,152,748.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn L. Md Cooper sold 5,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $66.94, for a total transaction of $334,700.00. Following the sale, the director now directly owns 35,975 shares of the company’s stock, valued at approximately $2,408,166.50. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Summit Creek Advisors LLC boosted its position in Repligen by 0.3% during the 2nd quarter. Summit Creek Advisors LLC now owns 84,537 shares of the biotechnology company’s stock valued at $7,266,000 after buying an additional 230 shares during the period. Eqis Capital Management Inc. bought a new position in Repligen in the 2nd quarter worth $540,000. New York State Teachers Retirement System raised its holdings in Repligen by 1.1% in the 2nd quarter. New York State Teachers Retirement System now owns 54,489 shares of the biotechnology company’s stock worth $4,683,000 after purchasing an additional 573 shares in the last quarter. Navellier & Associates Inc bought a new position in Repligen in the 2nd quarter worth $647,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in Repligen by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,417 shares of the biotechnology company’s stock worth $1,325,000 after purchasing an additional 300 shares in the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.

About Repligen

Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process in North America, Europe, APAC, and internationally. 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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