Polen Capital Management LLC Sells 9,654 Shares of Repligen Corporation (NASDAQ:RGEN)

Key Points

• Polen Capital Management LLC has reduced its stake in Repligen Corporation by 23.8%, owning 30,902 shares after selling 9,654 shares during the first quarter.
• Research analysts have set varying price targets for Repligen, with JPMorgan Chase lowering their target to $190.00 while Royal Bank Of Canada raised theirs to $204.00, indicating a consensus average price target of $169.45.
• Repligen reported $182.37 million in revenue for the latest quarter, exceeding analysts' expectations, despite missing their earnings per share estimate by 3 cents.

Polen Capital Management LLC reduced its stake in Repligen Corporation (NASDAQ:RGEN - Free Report) by 23.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,902 shares of the biotechnology company's stock after selling 9,654 shares during the quarter. Polen Capital Management LLC owned 0.06% of Repligen worth $3,932,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RGEN. Utah Retirement Systems boosted its holdings in shares of Repligen by 1.1% during the 4th quarter. Utah Retirement Systems now owns 9,294 shares of the biotechnology company's stock worth $1,338,000 after buying an additional 100 shares during the period. State of Michigan Retirement System boosted its holdings in shares of Repligen by 0.8% during the 1st quarter. State of Michigan Retirement System now owns 12,453 shares of the biotechnology company's stock worth $1,585,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Repligen by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the biotechnology company's stock worth $1,858,000 after buying an additional 100 shares during the period. Signaturefd LLC boosted its holdings in Repligen by 65.3% in the 1st quarter. Signaturefd LLC now owns 324 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 128 shares during the period. Finally, Commerce Bank lifted its holdings in shares of Repligen by 7.5% during the 1st quarter. Commerce Bank now owns 1,899 shares of the biotechnology company's stock worth $242,000 after acquiring an additional 133 shares during the period. 97.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Repligen news, Director Martin D. Madaus acquired 1,800 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $112.13 per share, for a total transaction of $201,834.00. Following the acquisition, the director owned 1,800 shares in the company, valued at $201,834. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Repligen Stock Performance

RGEN stock traded down $1.54 during mid-day trading on Thursday, hitting $125.61. The company had a trading volume of 338,508 shares, compared to its average volume of 781,591. The firm has a market cap of $7.07 billion, a PE ratio of -502.42, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.32 and a current ratio of 8.59. Repligen Corporation has a 12 month low of $102.96 and a 12 month high of $182.52. The stock's fifty day moving average price is $122.58 and its two-hundred day moving average price is $133.62.

Repligen (NASDAQ:RGEN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The biotechnology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $182.37 million during the quarter, compared to analysts' expectations of $174.62 million. Repligen had a positive return on equity of 4.61% and a negative net margin of 2.05%. Repligen's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. On average, analysts forecast that Repligen Corporation will post 1.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RGEN shares. JPMorgan Chase & Co. lowered their price objective on shares of Repligen from $200.00 to $190.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Royal Bank Of Canada increased their price objective on shares of Repligen from $193.00 to $204.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Evercore ISI decreased their price objective on shares of Repligen from $140.00 to $130.00 and set an "in-line" rating for the company in a research report on Tuesday, July 8th. Stephens upgraded shares of Repligen to an "overweight" rating and set a $160.00 price objective for the company in a research report on Tuesday, July 22nd. Finally, Canaccord Genuity Group reduced their price target on shares of Repligen from $170.00 to $150.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $169.45.

Repligen Company Profile

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.