Canaccord Genuity Group Cuts Repligen (NASDAQ:RGEN) Price Target to $150.00

Repligen (NASDAQ:RGEN) had its price target dropped by analysts at Canaccord Genuity Group from $170.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 14.94% from the company’s current price.

Several other equities analysts have also commented on RGEN. Evercore ISI initiated coverage on Repligen in a research note on Tuesday, March 18th. They issued an “in-line” rating and a $155.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $180.00 price objective on shares of Repligen in a report on Friday, February 21st. TD Cowen started coverage on Repligen in a research report on Monday, February 10th. They issued a “buy” rating and a $200.00 target price on the stock. StockNews.com raised Repligen from a “sell” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Canaccord Genuity Group assumed coverage on Repligen in a report on Tuesday, December 17th. They set a “hold” rating and a $165.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.82.

Repligen Price Performance

Shares of RGEN stock traded up $3.88 during trading hours on Wednesday, reaching $130.50. The company had a trading volume of 694,188 shares, compared to its average volume of 703,258. The stock has a fifty day moving average of $141.72 and a 200-day moving average of $146.05. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of -255.88, a PEG ratio of 4.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.76 and a current ratio of 10.44. Repligen has a 12-month low of $102.97 and a 12-month high of $182.52.

Repligen (NASDAQ:RGEN) last announced its quarterly earnings data on Thursday, February 20th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $167.55 million during the quarter, compared to analyst estimates of $167.58 million. Repligen had a negative net margin of 4.64% and a positive return on equity of 4.21%. On average, equities analysts anticipate that Repligen will post 1.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Margaret Pax purchased 250 shares of the business’s stock in a transaction on Monday, March 17th. The shares were bought at an average price of $150.69 per share, with a total value of $37,672.50. Following the completion of the transaction, the director now directly owns 1,043 shares in the company, valued at approximately $157,169.67. This represents a 31.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Repligen

Several institutional investors and hedge funds have recently bought and sold shares of RGEN. Signaturefd LLC boosted its stake in shares of Repligen by 172.2% during the fourth quarter. Signaturefd LLC now owns 196 shares of the biotechnology company’s stock worth $28,000 after buying an additional 124 shares during the period. Sava Infond d.o.o. purchased a new stake in shares of Repligen during the fourth quarter worth approximately $29,000. Raiffeisen Bank International AG purchased a new position in Repligen in the 4th quarter valued at $29,000. Itau Unibanco Holding S.A. purchased a new position in Repligen during the 4th quarter worth $40,000. Finally, UMB Bank n.a. boosted its holdings in shares of Repligen by 49.1% in the fourth quarter. UMB Bank n.a. now owns 334 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other 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.