Zacks Investment Research Downgrades Repligen (NASDAQ:RGEN) to Hold

Zacks Investment Research lowered shares of Repligen (NASDAQ:RGEN) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. BidaskClub lowered shares of Waterstone Financial from a hold rating to a sell rating in a research note on Friday, June 21st. ValuEngine raised shares of United Overseas Bank from a sell rating to a hold rating in a research note on Monday, June 17th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Repligen has an average rating of Buy and a consensus price target of $70.50.

Shares of NASDAQ:RGEN opened at $85.00 on Thursday. The firm’s fifty day moving average is $78.38. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 100.00, a P/E/G 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 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 issued its earnings results on Thursday, May 9th. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $60.63 million during the quarter, compared to analyst estimates of $55.09 million. Repligen had a net margin of 10.11% and a return on equity of 6.35%. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. Sell-side analysts expect that Repligen will post 0.94 earnings per share for the current year.

In related 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 completion of the sale, the director now owns 35,975 shares of the company’s stock, valued at approximately $2,408,166.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen A. Dawes sold 1,295 shares of Repligen 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 directly owns 118,329 shares of the company’s stock, valued at approximately $9,152,748.15. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in RGEN. Texas Permanent School Fund lifted its holdings in shares of Repligen by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 25,544 shares of the biotechnology company’s stock worth $1,347,000 after buying an additional 1,013 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Repligen in the 4th quarter worth $220,000. GSA Capital Partners LLP lifted its holdings in shares of Repligen by 105.2% in the 4th quarter. GSA Capital Partners LLP now owns 8,277 shares of the biotechnology company’s stock worth $437,000 after buying an additional 4,244 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in shares of Repligen in the 4th quarter worth $118,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Repligen by 13.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 52,349 shares of the biotechnology company’s stock worth $2,549,000 after purchasing an additional 6,208 shares during the last quarter. 84.90% 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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