Principal Financial Group Inc. Increases Position in Repligen Corporation (NASDAQ:RGEN)

Principal Financial Group Inc. increased its stake in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) by 55.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,715 shares of the biotechnology company's stock after buying an additional 66,808 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Repligen worth $23,758,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RGEN. Charles Schwab Investment Management Inc. grew its holdings in shares of Repligen by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,900 shares of the biotechnology company's stock valued at $54,395,000 after buying an additional 14,521 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Repligen during the fourth quarter valued at $3,066,000. Arizona State Retirement System lifted its position in Repligen by 0.8% during the fourth quarter. Arizona State Retirement System now owns 15,410 shares of the biotechnology company's stock valued at $2,218,000 after purchasing an additional 126 shares during the period. Raymond James Financial Inc. acquired a new position in Repligen during the fourth quarter valued at $52,492,000. Finally, Edgestream Partners L.P. acquired a new position in Repligen during the fourth quarter valued at $1,499,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Repligen Stock Up 3.3%

RGEN opened at $128.56 on Wednesday. Repligen Corporation has a twelve month low of $102.97 and a twelve month high of $182.52. The company has a quick ratio of 5.79, a current ratio of 6.79 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $126.10 and a 200 day moving average price of $139.65. The company has a market cap of $7.22 billion, a PE ratio of -285.69, a price-to-earnings-growth ratio of 3.56 and a beta of 1.11.

Repligen (NASDAQ:RGEN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biotechnology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. Repligen had a negative net margin of 3.93% and a positive return on equity of 4.53%. The firm had revenue of $169.17 million during the quarter, compared to the consensus estimate of $163.65 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts expect that Repligen Corporation will post 1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RGEN shares. Royal Bank Of Canada decreased their target price on shares of Repligen from $202.00 to $189.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Canaccord Genuity Group decreased their target price on shares of Repligen from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Evercore ISI decreased their target price 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. HC Wainwright restated a "buy" rating and set a $180.00 target price on shares of Repligen in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Repligen has an average rating of "Moderate Buy" and an average price target of $170.75.

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.

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