Repligen (NASDAQ:RGEN) Updates FY24 Earnings Guidance

Repligen (NASDAQ:RGEN) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.42-1.49 for the period, compared to the consensus estimate of $1.45. The company issued revenue guidance of $620-635 million, compared to the consensus revenue estimate of $636.53 million. Repligen also updated its FY 2024 guidance to 1.420-1.490 EPS.

Repligen Stock Up 12.0 %

RGEN stock traded up $16.52 during trading on Tuesday, reaching $154.52. 1,361,625 shares of the company traded hands, compared to its average volume of 621,315. The business has a 50 day simple moving average of $134.79 and a 200 day simple moving average of $166.21. Repligen has a 12 month low of $110.45 and a 12 month high of $211.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.24 and a current ratio of 6.35. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 622.18, a price-to-earnings-growth ratio of 4.71 and a beta of 0.96.

Repligen (NASDAQ:RGEN) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Repligen had a net margin of 2.44% and a return on equity of 3.95%. The company had revenue of $151.31 million during the quarter, compared to analysts’ expectations of $150.06 million. During the same quarter last year, the firm earned $0.64 EPS. Repligen’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities research analysts anticipate that Repligen will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Repligen from $230.00 to $200.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upgraded Repligen from a hold rating to a buy rating and dropped their price target for the stock from $180.00 to $155.00 in a research note on Wednesday, June 26th. Guggenheim initiated coverage on Repligen in a research note on Tuesday, June 18th. They set a neutral rating on the stock. Finally, Stephens restated an overweight rating and set a $170.00 price target on shares of Repligen in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $190.25.

Insider Transactions at Repligen

In related news, CEO Anthony Hunt sold 20,072 shares of Repligen stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $168.26, for a total transaction of $3,377,314.72. Following the completion of the sale, the chief executive officer now owns 163,177 shares of the company’s stock, valued at $27,456,162.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Anthony Hunt sold 20,072 shares of Repligen stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $168.26, for a total transaction of $3,377,314.72. Following the completion of the sale, the chief executive officer now owns 163,177 shares of the company’s stock, valued at $27,456,162.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin D. Madaus bought 1,615 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $124.94 per share, with a total value of $201,778.10. Following the acquisition, the director now directly owns 4,613 shares of the company’s stock, valued at $576,348.22. The disclosure for this purchase can be found here. Insiders own 1.20% 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.