Westpac Banking Corp Purchases 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 grew its holdings in shares of Repligen Corporation (NASDAQ:RGEN - Free Report) by 31.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,456 shares of the biotechnology company's stock after buying an additional 6,731 shares during the quarter. Westpac Banking Corp owned approximately 0.05% of Repligen worth $3,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Repligen by 11.6% in the 4th 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 purchasing an additional 743,815 shares during the period. Champlain Investment Partners LLC lifted its holdings in Repligen by 8.6% during the 4th quarter. Champlain Investment Partners LLC now owns 1,543,530 shares of the biotechnology company's stock worth $222,176,000 after purchasing an additional 122,595 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Repligen by 3.4% during the first quarter. Conestoga Capital Advisors LLC now owns 980,247 shares of the biotechnology company's stock worth $124,727,000 after buying an additional 32,665 shares in the last quarter. Point72 Asset Management L.P. grew its stake 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 acquiring an additional 594,189 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Repligen by 7.6% during the first quarter. New York State Common Retirement Fund now owns 625,388 shares of the biotechnology company's stock worth $79,574,000 after acquiring an additional 43,946 shares during the period. 97.64% of the stock is owned by institutional investors.

Insider Activity

In other Repligen news, Director Martin D. Madaus acquired 1,800 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $112.13 per share, for a total transaction of $201,834.00. Following the completion of the transaction, the director owned 1,800 shares of the company's stock, valued at approximately $201,834. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

RGEN has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Repligen from $200.00 to $190.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and set a $180.00 price target on shares of Repligen in a report on Monday, May 5th. Barclays started coverage on Repligen in a research report on Tuesday, June 24th. They set an "overweight" rating and a $150.00 price objective on the stock. Evercore ISI cut their target price on Repligen from $140.00 to $130.00 and set an "in-line" rating on the stock in a report on Tuesday, July 8th. Finally, Stephens raised Repligen to an "overweight" rating and set a $160.00 price objective on the stock in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $169.45.

Repligen Stock Performance

Shares of NASDAQ:RGEN traded down $2.29 during trading on Friday, hitting $124.35. 574,823 shares of the company were exchanged, compared to its average volume of 782,620. The company has a market cap of $7.00 billion, a PE ratio of -497.38, a P/E/G ratio of 2.34 and a beta of 1.05. The stock has a 50 day moving average of $122.58 and a 200 day moving average of $133.33. Repligen Corporation has a 52-week low of $102.96 and a 52-week high of $182.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.59 and a quick ratio of 7.32.

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