Repligen (NASDAQ:RGEN) Trading Up 8.1% After Better-Than-Expected Earnings

Repligen Co. (NASDAQ:RGEN - Get Free Report)'s stock price rose 8.1% on Thursday following a stronger than expected earnings report. The stock traded as high as $169.00 and last traded at $162.95. Approximately 334,266 shares were traded during trading, a decline of 40% from the average daily volume of 554,874 shares. The stock had previously closed at $150.73.

The biotechnology company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The business had revenue of $167.55 million for the quarter, compared to analyst estimates of $167.58 million. Repligen had a positive return on equity of 3.90% and a negative net margin of 3.36%.

Analyst Ratings Changes

RGEN has been the topic of a number of research analyst reports. StockNews.com raised Repligen from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on Repligen from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday. Royal Bank of Canada raised their price target on Repligen from $203.00 to $205.00 and gave the stock an "outperform" rating in a research note on Friday. Wolfe Research initiated coverage on Repligen in a research note on Thursday, November 14th. They issued a "peer perform" rating on the stock. Finally, Canaccord Genuity Group raised their price target on Repligen from $165.00 to $170.00 and gave the stock a "hold" rating in a research note on Friday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.36.

Institutional Investors Weigh In On Repligen

Several hedge funds have recently modified their holdings of RGEN. Champlain Investment Partners LLC raised its holdings in shares of Repligen by 149.0% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,420,935 shares of the biotechnology company's stock valued at $211,464,000 after buying an additional 850,345 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Repligen by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,136,054 shares of the biotechnology company's stock valued at $1,027,165,000 after buying an additional 743,815 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Repligen by 183.1% during the 4th quarter. Point72 Asset Management L.P. now owns 918,623 shares of the biotechnology company's stock valued at $132,227,000 after buying an additional 594,189 shares during the period. Groupama Asset Managment raised its holdings in shares of Repligen by 12,321.0% during the 4th quarter. Groupama Asset Managment now owns 403,932 shares of the biotechnology company's stock valued at $58,142,000 after buying an additional 400,680 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Repligen during the 4th quarter valued at about $53,428,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Repligen Trading Down 2.3 %

The firm has a market capitalization of $8.91 billion, a PE ratio of -429.69, a P/E/G ratio of 4.23 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.76 and a current ratio of 10.44. The firm has a fifty day moving average of $155.22 and a 200 day moving average of $148.79.

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.