Repligen (NASDAQ:RGEN) Shares Gap Up - Here's What Happened

Repligen Co. (NASDAQ:RGEN - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $131.64, but opened at $138.51. Repligen shares last traded at $137.52, with a volume of 137,521 shares.

Analysts Set New Price Targets

RGEN has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $180.00 target price on shares of Repligen in a report on Friday, February 21st. TD Cowen initiated coverage on Repligen in a research note on Monday, February 10th. They set a "buy" rating and a $200.00 price objective on the stock. StockNews.com downgraded shares of Repligen from a "hold" rating to a "sell" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. raised their price target on shares of Repligen from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Evercore ISI assumed coverage on shares of Repligen in a report on Tuesday, March 18th. They set an "in-line" rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $176.82.

Repligen Stock Performance

The company has a market cap of $8.02 billion, a PE ratio of -280.07, a P/E/G ratio of 4.54 and a beta of 1.27. The stock's 50 day simple moving average is $139.81 and its two-hundred day simple moving average is $145.73. The company has a quick ratio of 8.76, a current ratio of 10.44 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN - Get Free Report) last issued its earnings results on Thursday, February 20th. The biotechnology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. Repligen had a positive return on equity of 4.21% and a negative net margin of 4.64%. The business had revenue of $167.55 million for the quarter, compared to analyst estimates of $167.58 million. As a group, research analysts anticipate that Repligen Co. will post 1.72 earnings per share for the current year.

Insider Activity

In other Repligen news, Director Margaret Pax purchased 250 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $150.69 per share, for a total transaction of $37,672.50. Following the completion of the acquisition, the director now owns 1,043 shares of the company's stock, valued at approximately $157,169.67. This represents a 31.53 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Repligen

Several large investors have recently made changes to their positions in the business. Stifel Financial Corp boosted its position in Repligen by 5.4% during the 3rd quarter. Stifel Financial Corp now owns 4,404 shares of the biotechnology company's stock worth $655,000 after purchasing an additional 226 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Repligen during the third quarter worth about $233,000. Tidal Investments LLC boosted its position in shares of Repligen by 142.8% in the third quarter. Tidal Investments LLC now owns 11,149 shares of the biotechnology company's stock worth $1,659,000 after buying an additional 6,558 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in shares of Repligen in the third quarter valued at about $296,000. Finally, Franklin Resources Inc. raised its holdings in shares of Repligen by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 332,405 shares of the biotechnology company's stock valued at $47,551,000 after buying an additional 26,668 shares during the period. Institutional investors and hedge funds 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.