Repligen (NASDAQ:RGEN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Repligen (NASDAQ:RGEN) released its earnings results on Wednesday. The biotechnology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01), Briefing.com reports. The company had revenue of $151.31 million for the quarter, compared to the consensus estimate of $150.06 million. Repligen had a net margin of 6.51% and a return on equity of 5.00%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Repligen updated its FY24 guidance to $1.42-1.49 EPS and its FY 2024 guidance to 1.420-1.490 EPS.

Repligen Stock Up 3.6 %

Shares of RGEN stock traded up $5.66 during mid-day trading on Thursday, hitting $164.02. The stock had a trading volume of 461,158 shares, compared to its average volume of 537,259. Repligen has a 12-month low of $110.45 and a 12-month high of $211.13. The firm has a market capitalization of $9.16 billion, a P/E ratio of 226.23, a price-to-earnings-growth ratio of 5.38 and a beta of 1.03. The firm’s 50-day moving average is $181.94 and its two-hundred day moving average is $173.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.02 and a quick ratio of 5.75.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RGEN shares. Stifel Nicolaus boosted their target price on Repligen from $165.00 to $207.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. KeyCorp boosted their price objective on Repligen from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Repligen from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Repligen presently has an average rating of “Moderate Buy” and a consensus price target of $195.70.

Insider Transactions at Repligen

In other news, VP Ralf Kuriyel sold 3,517 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $193.73, for a total value of $681,348.41. Following the completion of the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at approximately $4,699,889.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Ralf Kuriyel sold 3,517 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $193.73, for a total value of $681,348.41. Following the completion of the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at approximately $4,699,889.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James Bylund sold 4,373 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $198.08, for a total value of $866,203.84. Following the transaction, the chief operating officer now directly owns 14,135 shares in the company, valued at $2,799,860.80. The disclosure for this sale can be found here. In the last three months, insiders sold 25,597 shares of company stock valued at $5,039,532. Corporate insiders own 1.20% of the company’s stock.

About Repligen

Repligen Corporation develops and commercializes bioprocessing technologies and systems for use in biological drug manufacturing process in North America, Europe, the Asia Pacific, and internationally. It offers Protein A ligands that are the binding components of Protein A affinity chromatography resins; and cell culture growth factor products.