Repligen (NASDAQ:RGEN) Shares Down 5.1%

Repligen Co. (NASDAQ:RGEN) shares dropped 5.1% on Friday . The stock traded as low as $89.76 and last traded at $90.61, approximately 1,491,723 shares traded hands during trading. An increase of 240% from the average daily volume of 438,126 shares. The stock had previously closed at $95.51.

RGEN has been the topic of several research reports. Zacks Investment Research upgraded shares of Repligen from a “hold” rating to a “strong-buy” rating and set a $102.00 price objective on the stock in a research note on Thursday, July 18th. ValuEngine lowered shares of Repligen from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Repligen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Finally, HC Wainwright upgraded shares of Repligen from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Repligen has a consensus rating of “Buy” and an average price target of $94.00.

The company’s 50 day moving average is $85.77. The stock has a market cap of $4.53 billion, a P/E ratio of 124.12, a price-to-earnings-growth ratio of 5.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 2.18.

Repligen (NASDAQ:RGEN) last issued its earnings results on Thursday, August 1st. The biotechnology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. The firm had revenue of $70.70 million during the quarter, compared to analysts’ expectations of $65.47 million. Repligen had a net margin of 10.11% and a return on equity of 6.35%. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, analysts expect that Repligen Co. will post 0.96 EPS for the current fiscal year.

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

A number of institutional investors have recently bought and sold shares of RGEN. Norges Bank acquired a new position in Repligen in the 4th quarter worth approximately $18,352,000. Copper Rock Capital Partners LLC acquired a new position in Repligen in the 2nd quarter worth approximately $25,740,000. Millennium Management LLC acquired a new position in Repligen in the 4th quarter worth approximately $11,021,000. OppenheimerFunds Inc. boosted its stake in Repligen by 9.0% in the 1st quarter. OppenheimerFunds Inc. now owns 1,082,943 shares of the biotechnology company’s stock worth $63,980,000 after purchasing an additional 89,226 shares during the period. Finally, BlackRock Inc. boosted its stake in Repligen by 1.2% in the 1st quarter. BlackRock Inc. now owns 5,650,666 shares of the biotechnology company’s stock worth $333,841,000 after purchasing an additional 66,580 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.

About Repligen (NASDAQ:RGEN)

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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