HC Wainwright reiterated their buy rating on shares of Repligen (NASDAQ:RGEN) in a report released on Monday morning, AnalystRatings.com reports. HC Wainwright currently has a $110.00 target price 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 $5.5B. We utilize a roughly 7.5% discount rate (vs. the previous 9%) and 26% effective tax rate. This yields a market value of the firm of $5.7B, assuming roughly $527M in cash as of mid-2020, which reflects the proceeds from the $287.5M convertible note offering completed in July 2019. Given the projected 52M shares outstanding as of mid-2020, this yields a price objective of roughly $110 per share.”,” HC Wainwright’s analyst wrote.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Repligen from a buy rating to a hold rating in a report on Wednesday, August 7th. BidaskClub upgraded shares of Repligen from a buy rating to a strong-buy rating in a report on Saturday, July 27th. ValuEngine downgraded shares of Repligen from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Finally, Craig Hallum lifted their price target on shares of Repligen from $80.00 to $108.00 and gave the company a buy rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $97.50.
Repligen (NASDAQ:RGEN) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The company had revenue of $70.70 million for the quarter, compared to the consensus estimate of $65.47 million. Repligen had a net margin of 11.42% and a return on equity of 6.92%. Repligen’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. As a group, analysts forecast that Repligen will post 0.97 EPS for the current fiscal year.
In other Repligen news, Director Glenn L. Md Cooper sold 5,000 shares of Repligen stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $66.94, for a total value of $334,700.00. Following the sale, the director now directly owns 35,975 shares in the company, valued at approximately $2,408,166.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karen A. Dawes sold 1,295 shares of Repligen stock in a transaction on Monday, June 17th. The stock was sold at an average price of $77.35, for a total transaction of $100,168.25. Following the completion of the transaction, the director now directly owns 118,329 shares of the company’s stock, valued at $9,152,748.15. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several large investors have recently modified their holdings of the business. Royce & Associates LP grew its stake in shares of Repligen by 40.6% in the 1st quarter. Royce & Associates LP now owns 502 shares of the biotechnology company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Falcon Point Capital LLC grew its stake in shares of Repligen by 2.5% in the 1st quarter. Falcon Point Capital LLC now owns 6,922 shares of the biotechnology company’s stock worth $409,000 after buying an additional 167 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Repligen by 0.3% in the 1st quarter. Arizona State Retirement System now owns 60,301 shares of the biotechnology company’s stock worth $3,563,000 after buying an additional 188 shares in the last quarter. Summit Creek Advisors LLC grew its stake in shares of Repligen by 0.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 84,537 shares of the biotechnology company’s stock worth $7,266,000 after buying an additional 230 shares in the last quarter. Finally, Pitcairn Co. grew its stake in shares of Repligen by 7.0% in the 2nd quarter. Pitcairn Co. now owns 3,769 shares of the biotechnology company’s stock worth $324,000 after buying an additional 245 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.
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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