Canaccord Genuity Group Initiates Coverage on Repligen (NASDAQ:RGEN)

Analysts at Canaccord Genuity Group initiated coverage on shares of Repligen (NASDAQ:RGEN) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $165.00 price target on the biotechnology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 11.99% from the stock’s current price.

Several other equities analysts have also recently issued reports on RGEN. Wells Fargo & Company began coverage on shares of Repligen in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price target for the company. StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $205.00 price target on shares of Repligen in a research report on Thursday, September 26th. Finally, Wolfe Research began coverage on shares of Repligen in a research report on Thursday, November 14th. They issued a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.20.

Repligen Price Performance

RGEN stock opened at $147.34 on Tuesday. The company has a 50 day simple moving average of $143.83 and a 200 day simple moving average of $141.78. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of -398.21, a P/E/G ratio of 4.64 and a beta of 0.96. Repligen has a 1 year low of $113.50 and a 1 year high of $211.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.44 and a quick ratio of 8.76.

Repligen (NASDAQ:RGEN) last released its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $154.87 million during the quarter, compared to analysts’ expectations of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.90%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. Research analysts anticipate that Repligen will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Repligen

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Repligen by 937.8% during the second quarter. Assenagon Asset Management S.A. now owns 30,189 shares of the biotechnology company’s stock worth $3,806,000 after acquiring an additional 27,280 shares in the last quarter. Raymond James & Associates boosted its stake in Repligen by 3.7% during the second quarter. Raymond James & Associates now owns 55,119 shares of the biotechnology company’s stock worth $6,948,000 after acquiring an additional 1,951 shares in the last quarter. Fifth Third Bancorp boosted its stake in Repligen by 6.4% during the second quarter. Fifth Third Bancorp now owns 3,096 shares of the biotechnology company’s stock worth $390,000 after acquiring an additional 187 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Repligen during the second quarter worth $273,000. Finally, Slow Capital Inc. boosted its stake in Repligen by 10.7% during the second quarter. Slow Capital Inc. now owns 16,165 shares of the biotechnology company’s stock worth $2,038,000 after acquiring an additional 1,558 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Repligen Company Profile

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.