Repligen (NASDAQ:RGEN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Repligen (NASDAQ:RGEN) from a strong-buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

According to Zacks, “Repligen Corporation is a life sciences company focused on the development, production and commercialization of high-value consumable products used in the process of manufacturing biological drugs. Their bioprocessing products are sold to major life sciences and biopharmaceutical companies worldwide. They are a leading manufacturer of Protein A, a critical reagent used to separate and purify monoclonal antibody therapeutics. They also supply several growth factor products used to increase cell culture productivity during the fermentation stage of drug manufacturing. In addition, they have developed and marketed their OPUS® series of pre-packed plug-and-play chromatography columns, and they provide test kits to ensure final product quality. Aside from their core bioprocessing business, they have a portfolio of clinical-stage partnering assets, including a pancreatic imaging agent in Phase 3 development and an orphan drug candidate in Phase 1 development. “

RGEN has been the topic of a number of other research reports. BidaskClub cut shares of Waterstone Financial from a hold rating to a sell rating in a report on Friday, June 21st. ValuEngine raised shares of United Overseas Bank from a sell rating to a hold rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Repligen has a consensus rating of Buy and an average price target of $70.50.

Shares of RGEN stock opened at $85.00 on Thursday. The company has a quick ratio of 1.84, a current ratio of 2.18 and a debt-to-equity ratio of 0.03. Repligen has a one year low of $45.00 and a one year high of $87.42. The stock’s 50-day moving average is $78.38. The company has a market capitalization of $4.01 billion, a PE ratio of 100.00, a price-to-earnings-growth ratio of 5.17 and a beta of 1.10.

Repligen (NASDAQ:RGEN) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Repligen had a net margin of 10.11% and a return on equity of 6.35%. The business had revenue of $60.63 million for the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter last year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. On average, equities research analysts expect that Repligen will post 0.94 earnings per share for the current fiscal year.

In other Repligen news, Director Karen A. Dawes sold 1,295 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $77.35, for a total value of $100,168.25. Following the transaction, the director now owns 118,329 shares of the company’s stock, valued at $9,152,748.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn L. Md Cooper sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $66.94, for a total transaction of $334,700.00. Following the completion of the transaction, the director now directly owns 35,975 shares in the company, valued at approximately $2,408,166.50. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sheets Smith Wealth Management acquired a new position in shares of Repligen during the second quarter valued at approximately $548,000. Copper Rock Capital Partners LLC acquired a new position in Repligen in the second quarter worth approximately $25,740,000. Amundi Pioneer Asset Management Inc. acquired a new position in Repligen in the first quarter worth approximately $2,925,000. Westpac Banking Corp grew its position in Repligen by 9.3% in the first quarter. Westpac Banking Corp now owns 94,885 shares of the biotechnology company’s stock worth $5,606,000 after buying an additional 8,100 shares during the last quarter. Finally, American Capital Management Inc. grew its position in Repligen by 3.8% in the first quarter. American Capital Management Inc. now owns 73,340 shares of the biotechnology company’s stock worth $4,333,000 after buying an additional 2,665 shares during the last quarter. 84.90% of the stock is currently owned by hedge funds and other institutional investors.

Repligen Company Profile

Repligen Corporation develops, manufactures, and sells products used to enhance the interconnected phases of the biological drug manufacturing process in North America, Europe, APAC, and internationally. 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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