Repligen (NASDAQ:RGEN) Stock Price Breaks Above 50-Day Moving Average – Here’s Why

Shares of Repligen Corporation (NASDAQ:RGEN) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $177.82 and traded as high as $181.56. Repligen shares last traded at $178.27, with a volume of 1,019,567 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings downgraded shares of Repligen from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday. Zacks Research downgraded shares of Repligen from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Benchmark upgraded Repligen from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Tuesday, July 7th. Royal Bank Of Canada upped their price objective on Repligen from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Finally, Barclays raised their target price on Repligen from $175.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.57.

Repligen Trading Up 3.1%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 8.43 and a current ratio of 9.88. The stock has a market capitalization of $11.40 billion, a PE ratio of -848.86, a PEG ratio of 2.96 and a beta of 1.11. The stock has a 50-day moving average price of $177.82 and a two-hundred day moving average price of $145.34.

Repligen (NASDAQ:RGEN) last announced its quarterly earnings data on Tuesday, October 27th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The company had revenue of $209.31 million during the quarter, compared to the consensus estimate of $206.70 million. Repligen had a positive return on equity of 5.49% and a negative net margin of 1.47%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. As a group, equities analysts forecast that Repligen Corporation will post 2.07 earnings per share for the current year.

Hedge Funds Weigh In On Repligen

Large investors have recently added to or reduced their stakes in the company. Ethic Inc. purchased a new stake in shares of Repligen in the third quarter worth $587,000. Heritage Family Offices LLP bought a new stake in shares of Repligen during the 3rd quarter valued at $80,000. Kestra Advisory Services LLC bought a new stake in shares of Repligen during the 3rd quarter valued at $360,000. Associated Banc Corp purchased a new position in shares of Repligen during the 3rd quarter valued at $226,000. Finally, Integrity Alliance LLC. purchased a new position in shares of Repligen during the 3rd quarter valued at $306,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Repligen Company Profile

Repligen Corporation (NASDAQ:RGEN) develops and manufactures bioprocessing technologies used in the production of biological medicines. Its products support key stages of biopharmaceutical manufacturing, including upstream processing, downstream purification, filtration, process monitoring and fluid management.

The company’s offerings include chromatography products, filtration systems, single-use technologies, process analytics equipment and critical biological materials such as recombinant proteins.