Repligen (RGEN) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Repligen (NASDAQ:RGEN) from a hold rating to a sell rating in a research note released on Tuesday, August 7th.

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 research firms have also recently commented on RGEN. Citigroup increased their price target on shares of Repligen from $45.00 to $56.00 and gave the company a buy rating in a report on Friday, July 20th. Stephens raised their target price on shares of Repligen from $50.00 to $55.00 and gave the stock an average rating in a report on Tuesday, July 10th. BidaskClub cut shares of Repligen from a strong-buy rating to a buy rating in a report on Tuesday, July 31st. Finally, ValuEngine upgraded shares of Repligen from a hold rating to a buy rating in a research report on Thursday, June 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Repligen has an average rating of Buy and an average target price of $46.86.

RGEN stock traded up $0.47 during trading on Tuesday, reaching $54.88. The company had a trading volume of 211,400 shares, compared to its average volume of 288,559. Repligen has a 52 week low of $29.56 and a 52 week high of $55.31. The company has a market cap of $2.34 billion, a P/E ratio of 79.54, a PEG ratio of 3.54 and a beta of 0.72.

Repligen (NASDAQ:RGEN) last announced its earnings results on Thursday, August 2nd. The biotechnology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Repligen had a net margin of 13.49% and a return on equity of 5.05%. The business had revenue of $47.73 million for the quarter, compared to the consensus estimate of $45.84 million. During the same period in the prior year, the business posted $0.20 EPS. Repligen’s revenue for the quarter was up 47.0% on a year-over-year basis. equities research analysts anticipate that Repligen will post 0.71 earnings per share for the current year.

In other Repligen news, Director Nicolas Barthelemy sold 6,580 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $54.44, for a total value of $358,215.20. Following the completion of the sale, the director now directly owns 8,774 shares of the company’s stock, valued at approximately $477,656.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jon Snodgres sold 14,460 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $52.79, for a total transaction of $763,343.40. Following the completion of the sale, the chief financial officer now owns 20,899 shares of the company’s stock, valued at approximately $1,103,258.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,250 shares of company stock worth $3,188,456. 1.40% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of RGEN. BlackRock Inc. raised its stake in shares of Repligen by 9.1% during the 2nd quarter. BlackRock Inc. now owns 5,851,161 shares of the biotechnology company’s stock worth $275,239,000 after acquiring an additional 485,777 shares in the last quarter. OppenheimerFunds Inc. grew its position in Repligen by 7.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,135,929 shares of the biotechnology company’s stock worth $100,473,000 after purchasing an additional 146,290 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Repligen by 6.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,711,132 shares of the biotechnology company’s stock worth $80,492,000 after purchasing an additional 107,095 shares during the last quarter. Macquarie Group Ltd. grew its position in Repligen by 12.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,107,691 shares of the biotechnology company’s stock worth $52,106,000 after purchasing an additional 121,157 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Repligen by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,820 shares of the biotechnology company’s stock worth $47,831,000 after purchasing an additional 3,489 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

About Repligen

Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process worldwide. 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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