Repligen Corporation (RGEN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Repligen Corporation (NASDAQ:RGEN) from a buy rating to a hold rating in a research note released on Wednesday.

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. “

A number of other brokerages have also weighed in on RGEN. BidaskClub upgraded Repligen Corporation from a buy rating to a strong-buy rating in a research note on Saturday, June 24th. Janney Montgomery Scott boosted their price target on Repligen Corporation from $42.00 to $47.00 in a research note on Friday, June 23rd. Jefferies Group LLC restated a hold rating and set a $40.00 price target (up previously from $33.00) on shares of Repligen Corporation in a research note on Wednesday, June 28th. Stephens restated an overweight rating and set a $50.00 price target on shares of Repligen Corporation in a research note on Tuesday, September 26th. Finally, William Blair began coverage on Repligen Corporation in a research note on Friday, July 21st. They set an outperform rating on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $45.40.

Shares of Repligen Corporation (NASDAQ:RGEN) traded up 0.92% during trading on Wednesday, reaching $38.27. 309,591 shares of the company were exchanged. Repligen Corporation has a 1-year low of $26.16 and a 1-year high of $46.81. The firm has a market capitalization of $1.43 billion, a P/E ratio of 74.89 and a beta of 1.18. The firm’s 50 day moving average is $41.40 and its 200 day moving average is $39.66.

Repligen Corporation (NASDAQ:RGEN) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Repligen Corporation had a return on equity of 9.90% and a net margin of 15.61%. The business had revenue of $32.40 million for the quarter, compared to analyst estimates of $31.72 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Repligen Corporation will post $0.59 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in RGEN. BNP Paribas Arbitrage SA lifted its holdings in shares of Repligen Corporation by 13.2% during the first quarter. BNP Paribas Arbitrage SA now owns 6,475 shares of the biotechnology company’s stock worth $228,000 after purchasing an additional 753 shares during the period. Comerica Bank lifted its holdings in shares of Repligen Corporation by 4.2% during the first quarter. Comerica Bank now owns 37,463 shares of the biotechnology company’s stock worth $1,382,000 after purchasing an additional 1,500 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Repligen Corporation during the first quarter worth about $506,000. State of Tennessee Treasury Department lifted its holdings in shares of Repligen Corporation by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 30,998 shares of the biotechnology company’s stock worth $1,091,000 after purchasing an additional 4,678 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Repligen Corporation during the first quarter worth about $103,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Repligen Corporation Company Profile

Repligen Corporation is a bioprocessing company. The Company is focused on the development, manufacture and commercialization of products used to improve the interconnected phases of the biological drug manufacturing process. The Company’s portfolio includes protein products, chromatography products, and filtration products.

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