Westpac Banking Corp Acquires 6,731 Shares of Repligen Corporation (NASDAQ:RGEN)

Key Points

• Westpac Banking Corp increased its holdings in Repligen Corporation by 31.0%, now owning 28,456 shares valued at $3,621,000.
• Institutional investors and hedge funds collectively hold 97.64% of Repligen's stock, indicating strong institutional confidence in the company.
• Repligen's quarterly earnings report showed a 14.8% year-over-year revenue increase, despite missing EPS expectations by $0.03.

Westpac Banking Corp boosted its stake in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) by 31.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,456 shares of the biotechnology company's stock after purchasing an additional 6,731 shares during the quarter. Westpac Banking Corp owned about 0.05% of Repligen worth $3,621,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Utah Retirement Systems boosted its position in Repligen by 1.1% during the fourth quarter. Utah Retirement Systems now owns 9,294 shares of the biotechnology company's stock worth $1,338,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Repligen by 0.8% during the first 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 last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Repligen by 0.7% during the first 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 last quarter. Signaturefd LLC lifted its holdings in shares of Repligen by 65.3% during the first quarter. Signaturefd LLC now owns 324 shares of the biotechnology company's stock worth $41,000 after buying an additional 128 shares during the last quarter. Finally, Commerce Bank lifted its holdings in shares of Repligen by 7.5% during the first quarter. Commerce Bank now owns 1,899 shares of the biotechnology company's stock worth $242,000 after buying an additional 133 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RGEN. Wells Fargo & Company cut their price target on Repligen from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Barclays started coverage on Repligen in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $150.00 target price for the company. Stephens upgraded Repligen to an "overweight" rating and set a $160.00 target price for the company in a research note on Tuesday, July 22nd. Wolfe Research upgraded Repligen from a "peer perform" rating to an "outperform" rating and set a $160.00 target price for the company in a research note on Tuesday, April 29th. Finally, Royal Bank Of Canada upped their target price on Repligen from $193.00 to $204.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $169.45.

Repligen Price Performance

NASDAQ:RGEN traded down $2.29 during trading hours on Friday, reaching $124.35. The company had a trading volume of 574,823 shares, compared to its average volume of 1,060,907. The stock has a 50-day moving average of $122.50 and a two-hundred day moving average of $132.99. The company has a quick ratio of 7.32, a current ratio of 8.59 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $7.00 billion, a PE ratio of -497.38, a PEG ratio of 2.33 and a beta of 1.05. Repligen Corporation has a one year low of $102.96 and a one year high of $182.52.

Repligen (NASDAQ:RGEN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The biotechnology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The business had revenue of $182.37 million for the quarter, compared to the consensus estimate 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 company posted $0.40 EPS. Analysts forecast that Repligen Corporation will post 1.72 earnings per share for the current year.

Insider Transactions at Repligen

In other news, Director Martin D. Madaus purchased 1,800 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $112.13 per share, for a total transaction of $201,834.00. Following the completion of the acquisition, the director directly owned 1,800 shares in the company, valued at approximately $201,834. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.