Repligen (RGEN) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Repligen (NASDAQ:RGEN) announced its earnings results on Thursday. The biotechnology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02, MarketWatch Earnings reports. Repligen had a return on equity of 5.05% and a net margin of 13.49%. The firm had revenue of $49.53 million during the quarter, compared to analyst estimates of $46.69 million. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 35.4% compared to the same quarter last year. Repligen updated its FY18 guidance to $0.71-0.75 EPS.

RGEN stock opened at $63.55 on Friday. Repligen has a twelve month low of $29.56 and a twelve month high of $63.98. The company has a market cap of $2.39 billion, a P/E ratio of 92.10, a P/E/G ratio of 4.39 and a beta of 0.69.

Several research analysts have recently issued reports on the company. Janney Montgomery Scott reissued a “buy” rating on shares of Repligen in a research report on Thursday, October 4th. BidaskClub raised Repligen from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 16th. Stephens increased their target price on Repligen from $50.00 to $55.00 and gave the stock an “average” rating in a research report on Tuesday, July 10th. JPMorgan Chase & Co. increased their target price on Repligen to $60.00 and gave the stock an “overweight” rating in a research report on Monday, September 24th. Finally, Zacks Investment Research lowered Repligen from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.83.

In related news, major shareholder Roy T. Eddleman sold 33,142 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $49.05, for a total transaction of $1,625,615.10. Following the completion of the transaction, the insider now owns 413,985 shares of the company’s stock, valued at approximately $20,305,964.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Roy T. Eddleman sold 4,770 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $49.05, for a total value of $233,968.50. Following the transaction, the insider now directly owns 413,985 shares of the company’s stock, valued at approximately $20,305,964.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,884 shares of company stock valued at $4,693,683. 1.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of RGEN. BlackRock Inc. increased its position in Repligen by 9.1% during the 2nd quarter. BlackRock Inc. now owns 5,851,161 shares of the biotechnology company’s stock valued at $275,239,000 after buying an additional 485,777 shares in the last quarter. Fred Alger Management Inc. increased its position in Repligen by 96.3% during the 2nd quarter. Fred Alger Management Inc. now owns 740,574 shares of the biotechnology company’s stock valued at $34,837,000 after buying an additional 363,339 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in Repligen by 13.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,941,212 shares of the biotechnology company’s stock valued at $107,660,000 after buying an additional 230,080 shares in the last quarter. Jennison Associates LLC increased its position in Repligen by 753.1% during the 2nd quarter. Jennison Associates LLC now owns 206,804 shares of the biotechnology company’s stock valued at $9,728,000 after buying an additional 182,562 shares in the last quarter. Finally, Redwood Investments LLC increased its position in Repligen by 64.4% during the 2nd quarter. Redwood Investments LLC now owns 396,088 shares of the biotechnology company’s stock valued at $18,632,000 after buying an additional 155,181 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Repligen Company Profile

Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process worldwide. It offers Protein A ligands to life sciences companies, which are the binding components of Protein A affinity resins; and growth factor products used to supplement cell culture media.

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Earnings History for Repligen (NASDAQ:RGEN)

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