Repligen (NASDAQ:RGEN) Updates FY 2024 Earnings Guidance

Repligen (NASDAQ:RGEN - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.500-1.580 for the period, compared to the consensus earnings per share estimate of 1.430. The company issued revenue guidance of $630.0 million-$639.0 million. Repligen also updated its FY24 guidance to $1.50-1.58 EPS.

Repligen Stock Up 7.0 %

NASDAQ RGEN traded up $9.78 on Tuesday, hitting $149.29. 1,066,870 shares of the stock traded hands, compared to its average volume of 656,426. The stock has a 50-day moving average of $141.34 and a 200 day moving average of $144.87. The company has a current ratio of 6.65, a quick ratio of 5.56 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $8.36 billion, a P/E ratio of -3,751.75, a price-to-earnings-growth ratio of 4.04 and a beta of 0.96. Repligen has a twelve month low of $113.50 and a twelve month high of $211.13.

Wall Street Analysts Forecast Growth

RGEN has been the subject of several research reports. Benchmark reissued a "hold" rating on shares of Repligen in a research report on Monday, August 5th. Stephens restated an "overweight" rating and issued a $170.00 price target on shares of Repligen in a research note on Tuesday, July 30th. UBS Group lowered their target price on shares of Repligen from $205.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of Repligen in a research note on Tuesday, August 27th. They issued an "overweight" rating and a $180.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $205.00 price target on shares of Repligen in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Repligen has an average rating of "Moderate Buy" and an average price target of $190.25.

Insiders Place Their Bets

In other Repligen news, Director Anthony Hunt sold 22,191 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $145.37, for a total value of $3,225,905.67. Following the completion of the transaction, the director now owns 139,840 shares of the company's stock, valued at $20,328,540.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

About Repligen

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.