Repligen (NASDAQ:RGEN) Trading 5.4% Higher – Here’s What Happened

Repligen Co. (NASDAQ:RGEN) shares rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $144.49 and last traded at $144.38. Approximately 133,624 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 637,420 shares. The stock had previously closed at $136.99.

Wall Street Analysts Forecast Growth

RGEN has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Repligen from $203.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. TD Cowen assumed coverage on Repligen in a report on Monday, February 10th. They issued a “buy” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wolfe Research assumed coverage on Repligen in a research note on Thursday, November 14th. They issued a “peer perform” rating on the stock. Finally, Canaccord Genuity Group boosted their price objective on Repligen from $165.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Repligen presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.00.

Repligen Stock Down 0.9 %

The company has a 50-day moving average of $157.18 and a two-hundred day moving average of $148.50. The company has a quick ratio of 8.76, a current ratio of 10.44 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $8.07 billion, a P/E ratio of -285.75, a price-to-earnings-growth ratio of 4.54 and a beta of 0.95.

Repligen (NASDAQ:RGEN) last announced its earnings results on Thursday, February 20th. The biotechnology company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $167.55 million for the quarter, compared to analysts’ expectations of $167.58 million. Repligen had a negative net margin of 4.64% and a positive return on equity of 4.21%. On average, research analysts predict that Repligen Co. will post 1.72 EPS for the current year.

Hedge Funds Weigh In On Repligen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Repligen by 172.2% during the fourth quarter. Signaturefd LLC now owns 196 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 124 shares during the period. Sava Infond d.o.o. purchased a new position in shares of Repligen during the 4th quarter valued at $29,000. Raiffeisen Bank International AG bought a new position in Repligen in the 4th quarter worth $29,000. Resources Management Corp CT ADV purchased a new stake in Repligen in the 3rd quarter worth $37,000. Finally, Quarry LP raised its holdings in Repligen by 796.7% during the third quarter. Quarry LP now owns 269 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. 97.64% of the stock is owned by institutional investors.

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.