Teacher Retirement System of Texas Increases Stake in Repligen Corporation (NASDAQ:RGEN)

Teacher Retirement System of Texas boosted its stake in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) by 61.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,811 shares of the biotechnology company's stock after acquiring an additional 6,036 shares during the quarter. Teacher Retirement System of Texas' holdings in Repligen were worth $2,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RGEN. Price T Rowe Associates Inc. MD increased its position in shares of Repligen by 11.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,136,054 shares of the biotechnology company's stock valued at $1,027,165,000 after buying an additional 743,815 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Repligen by 183.1% in the fourth quarter. Point72 Asset Management L.P. now owns 918,623 shares of the biotechnology company's stock valued at $132,227,000 after buying an additional 594,189 shares in the last quarter. Groupama Asset Managment increased its position in shares of Repligen by 12,321.0% in the fourth quarter. Groupama Asset Managment now owns 403,932 shares of the biotechnology company's stock valued at $58,142,000 after buying an additional 400,680 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Repligen in the fourth quarter valued at approximately $53,428,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Repligen in the fourth quarter valued at approximately $52,492,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RGEN shares. Evercore ISI cut their price objective on Repligen from $140.00 to $130.00 and set an "in-line" rating for the company in a research report on Tuesday. Barclays initiated coverage on Repligen in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $150.00 price target on the stock. Wall Street Zen lowered Repligen from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. JPMorgan Chase & Co. lowered their price target on Repligen from $200.00 to $190.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price target on shares of Repligen in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Repligen currently has an average rating of "Moderate Buy" and an average target price of $170.75.

Repligen Stock Performance

NASDAQ RGEN opened at $134.00 on Friday. The stock's fifty day moving average is $125.88 and its two-hundred day moving average is $139.50. The firm has a market capitalization of $7.53 billion, a P/E ratio of -297.78, a price-to-earnings-growth ratio of 3.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.79 and a current ratio of 6.79. Repligen Corporation has a fifty-two week low of $102.97 and a fifty-two week high of $182.52.

Repligen (NASDAQ:RGEN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biotechnology company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.04. The company had revenue of $169.17 million for the quarter, compared to analyst estimates of $163.65 million. Repligen had a positive return on equity of 4.53% and a negative net margin of 3.93%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, research analysts anticipate that Repligen Corporation will post 1.72 earnings per share for the current year.

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.

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