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

Canaccord Genuity Group started coverage on shares of Repligen (NASDAQ:RGEN) in a research note released on Tuesday morning, MarketBeat reports. The brokerage issued a hold rating and a $165.00 target price on the biotechnology company’s stock.

Several other research firms also recently commented on RGEN. Wells Fargo & Company started coverage on Repligen in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $180.00 price objective on the stock. StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. 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. Canaccord Genuity Group assumed coverage on shares of Repligen in a research note on Tuesday. They issued a “hold” rating and a $165.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $205.00 target price on shares of Repligen in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.20.

Repligen Stock Performance

Shares of NASDAQ RGEN opened at $146.54 on Tuesday. Repligen has a 12-month low of $113.50 and a 12-month high of $211.13. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of -396.04, a price-to-earnings-growth ratio of 4.64 and a beta of 0.96. The company has a current ratio of 10.44, a quick ratio of 8.76 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $144.07 and a 200 day moving average of $141.81.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC lifted its position in shares of Repligen by 149.0% in the third quarter. Champlain Investment Partners LLC now owns 1,420,935 shares of the biotechnology company’s stock worth $211,464,000 after buying an additional 850,345 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Repligen by 240.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 601,829 shares of the biotechnology company’s stock worth $75,866,000 after acquiring an additional 425,061 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Repligen by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,370,375 shares of the biotechnology company’s stock valued at $172,749,000 after acquiring an additional 237,884 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Repligen by 26.7% in the second quarter. Conestoga Capital Advisors LLC now owns 946,877 shares of the biotechnology company’s stock valued at $119,363,000 after purchasing an additional 199,322 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its position in Repligen by 31.0% in the third quarter. DF Dent & Co. Inc. now owns 590,321 shares of the biotechnology company’s stock worth $87,852,000 after purchasing an additional 139,615 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

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.