Royal Bank Of Canada Issues Positive Forecast for Repligen (NASDAQ:RGEN) Stock Price

Key Points

• Repligen has had its price target increased by Royal Bank Of Canada from $193 to $204, indicating a potential upside of 65.56% from its current price.
• Several other firms have issued revised price targets for Repligen, with Wells Fargo reducing its target to $175 and Evercore ISI lowering it to $130, while Wolfe Research upgraded it to a $160 target.
• The company reported $0.37 earnings per share, missing estimates, but showing a 14.8% year-over-year revenue growth of $182.37 million.

Repligen (NASDAQ:RGEN - Get Free Report) had its price objective upped by analysts at Royal Bank Of Canada from $193.00 to $204.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 71.56% from the company's previous close.

Several other brokerages have also recently issued reports on RGEN. HC Wainwright reiterated a "buy" rating and issued a $180.00 price objective on shares of Repligen in a research note on Monday, May 5th. Wolfe Research upgraded Repligen from a "peer perform" rating to an "outperform" rating and set a $160.00 price objective for the company in a research note on Tuesday, April 29th. Barclays started coverage on Repligen in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $150.00 price objective for the company. Evercore ISI decreased their price objective on Repligen from $140.00 to $130.00 and set an "in-line" rating for the company in a research note on Tuesday, July 8th. Finally, Canaccord Genuity Group decreased their price objective on Repligen from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Five equities research 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 stock presently has an average rating of "Moderate Buy" and an average price target of $169.45.

Repligen Trading Up 1.6%

Repligen stock traded up $1.84 during midday trading on Wednesday, reaching $118.91. 941,488 shares of the stock traded hands, compared to its average volume of 948,438. The company has a 50-day simple moving average of $123.39 and a two-hundred day simple moving average of $136.49. Repligen has a 12-month low of $102.96 and a 12-month high of $182.52. The firm has a market cap of $6.68 billion, a PE ratio of -475.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. The company has a current ratio of 6.79, a quick ratio of 5.79 and a debt-to-equity ratio of 0.27.

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 analysts' consensus estimates of $0.40 by ($0.03). Repligen had a negative net margin of 2.05% and a positive return on equity of 4.65%. The firm had revenue of $182.37 million for the quarter, compared to analysts' expectations of $174.62 million. During the same quarter last year, the business earned $0.40 earnings per share. The business's revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Repligen will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Repligen

Several institutional investors have recently added to or reduced their stakes in RGEN. LPL Financial LLC lifted its stake in Repligen by 47.6% during the fourth quarter. LPL Financial LLC now owns 32,237 shares of the biotechnology company's stock worth $4,873,000 after purchasing an additional 10,395 shares during the last quarter. Norges Bank purchased a new stake in Repligen during the fourth quarter worth approximately $24,034,000. Pictet Asset Management Holding SA lifted its stake in Repligen by 14.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,879 shares of the biotechnology company's stock worth $1,134,000 after purchasing an additional 992 shares during the last quarter. Alliancebernstein L.P. increased its position in Repligen by 23.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,010,896 shares of the biotechnology company's stock worth $145,508,000 after buying an additional 191,439 shares during the period. Finally, Cinctive Capital Management LP increased its position in Repligen by 717.1% during the fourth quarter. Cinctive Capital Management LP now owns 61,398 shares of the biotechnology company's stock worth $8,838,000 after buying an additional 53,884 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

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.