Wells Fargo & Company Issues Pessimistic Forecast for Repligen (NASDAQ:RGEN) Stock Price

Key Points

• Wells Fargo & Company has lowered its target price for Repligen (NASDAQ:RGEN) from $180.00 to $175.00, but maintains an "overweight" rating, suggesting a potential upside of 40.90% from the current stock price.
• Other analysts have also adjusted their price targets for Repligen, with Canaccord Genuity reducing theirs from $170.00 to $150.00 and Wolfe Research raising their rating to "outperform" with a $160.00 target price.
• Repligen's latest quarterly report showed earnings per share (EPS) of $0.37, missing expectations, despite a revenue increase of 14.8% year-over-year to $182.37 million.

Repligen (NASDAQ:RGEN - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $180.00 to $175.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's price target points to a potential upside of 51.89% from the company's current price.

Other research analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a "buy" rating and issued a $180.00 price target on shares of Repligen in a report on Monday, May 5th. Barclays began coverage on shares of Repligen in a report on Tuesday, June 24th. They set an "overweight" rating and a $150.00 price target on the stock. Evercore ISI decreased their price objective on shares of Repligen from $140.00 to $130.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. JPMorgan Chase & Co. dropped their price objective 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, Royal Bank Of Canada decreased their target price on Repligen from $202.00 to $189.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $169.45.

Repligen Stock Performance

Shares of NASDAQ RGEN traded down $1.85 during midday trading on Wednesday, hitting $115.22. 201,849 shares of the company's stock were exchanged, compared to its average volume of 778,025. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.79 and a quick ratio of 5.79. The stock's 50 day moving average price is $123.39 and its 200-day moving average price is $136.49. The firm has a market cap of $6.47 billion, a P/E ratio of -462.92, a PEG ratio of 2.27 and a beta of 1.11. Repligen has a twelve month low of $102.96 and a twelve month 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). Repligen had a positive return on equity of 4.65% and a negative net margin of 2.05%. The firm had revenue of $182.37 million for the quarter, compared to the consensus estimate of $174.62 million. During the same period in the previous year, the firm earned $0.40 EPS. Repligen's revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that Repligen will post 1.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RGEN. Raiffeisen Bank International AG acquired a new position in Repligen in the 4th quarter valued at about $29,000. Twin Tree Management LP acquired a new stake in shares of Repligen during the 1st quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Repligen during the 4th quarter worth approximately $40,000. Signaturefd LLC boosted its position in shares of Repligen by 65.3% during the 1st quarter. Signaturefd LLC now owns 324 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 128 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its position in Repligen by 110.3% in the first quarter. Center for Financial Planning Inc. now owns 368 shares of the biotechnology company's stock valued at $47,000 after buying an additional 193 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.