Repligen (NASDAQ:RGEN) Stock Rating Upgraded by Zacks Investment Research

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Repligen (NASDAQ:RGEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The firm presently has a $96.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.94% from the stock’s current price.

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 OPUSĀ® 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 several other reports. BidaskClub cut Waterstone Financial from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. ValuEngine upgraded United Overseas Bank from a “sell” rating to a “hold” rating in a research report on Monday, June 17th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Repligen presently has a consensus rating of “Buy” and an average target price of $70.50.

Repligen stock opened at $85.00 on Friday. The stock has a market capitalization of $4.01 billion, a PE ratio of 116.44, a PEG ratio of 5.17 and a beta of 1.10. Repligen has a 12 month low of $45.00 and a 12 month high of $87.42. The firm has a 50 day simple moving average of $78.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.18 and a quick ratio of 1.84.

Repligen (NASDAQ:RGEN) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The business had revenue of $60.63 million during the quarter, compared to analysts’ expectations of $55.09 million. Repligen had a return on equity of 6.35% and a net margin of 10.11%. The business’s revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Equities analysts forecast that Repligen will post 0.94 EPS for the current fiscal year.

In related news, Director Glenn L. Md Cooper sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $66.94, for a total transaction of $334,700.00. Following the completion of the sale, the director now directly owns 35,975 shares in the company, valued at $2,408,166.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen A. Dawes sold 1,295 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $77.35, for a total value of $100,168.25. Following the sale, the director now owns 118,329 shares of the company’s stock, valued at $9,152,748.15. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of RGEN. Lord Abbett & CO. LLC increased its position in shares of Repligen by 286.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 733,291 shares of the biotechnology company’s stock worth $38,674,000 after purchasing an additional 543,443 shares in the last quarter. Norges Bank purchased a new stake in Repligen in the 4th quarter valued at $18,352,000. Copper Rock Capital Partners LLC purchased a new stake in Repligen in the 2nd quarter valued at $25,740,000. Millennium Management LLC purchased a new stake in Repligen in the 4th quarter valued at $11,021,000. Finally, OppenheimerFunds Inc. grew its holdings in Repligen by 9.0% in the 1st quarter. OppenheimerFunds Inc. now owns 1,082,943 shares of the biotechnology company’s stock valued at $63,980,000 after buying an additional 89,226 shares in the last quarter. Hedge funds and other institutional investors own 84.90% of the company’s stock.

Repligen Company Profile

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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