Canaccord Genuity Group Begins Coverage on Repligen (NASDAQ:RGEN)

Analysts at Canaccord Genuity Group started coverage on shares of Repligen (NASDAQ:RGEN) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “hold” rating and a $165.00 price target on the biotechnology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 11.99% from the stock’s previous close.

RGEN has been the subject of several other reports. Canaccord Genuity Group began coverage on shares of Repligen in a research report on Tuesday. They set a “hold” rating and a $165.00 target price for the company. Wells Fargo & Company began coverage on shares of Repligen in a research report on Tuesday, August 27th. They set an “overweight” rating and a $180.00 target price for the company. StockNews.com upgraded shares of Repligen from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $205.00 target price on shares of Repligen in a research report on Thursday, September 26th. Finally, Wolfe Research began coverage on shares of Repligen in a research report on Thursday, November 14th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.20.

Repligen Price Performance

Shares of NASDAQ:RGEN opened at $147.34 on Tuesday. The company has a 50 day moving average of $143.83 and a 200 day moving average of $141.78. The stock has a market cap of $8.26 billion, a P/E ratio of -398.21, a P/E/G ratio of 4.64 and a beta of 0.96. Repligen has a 12 month low of $113.50 and a 12 month high of $211.13. The company has a current ratio of 10.44, a quick ratio of 8.76 and a debt-to-equity ratio of 0.26.

Repligen (NASDAQ:RGEN) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.34 by $0.09. The company had revenue of $154.87 million during the quarter, compared to analysts’ expectations of $153.34 million. Repligen had a negative net margin of 3.36% and a positive return on equity of 3.90%. Repligen’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Repligen will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Repligen by 1.5% in the second quarter. Toronto Dominion Bank now owns 5,207 shares of the biotechnology company’s stock worth $656,000 after buying an additional 75 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Repligen by 1.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,839 shares of the biotechnology company’s stock worth $982,000 after buying an additional 89 shares during the period. MML Investors Services LLC increased its stake in shares of Repligen by 2.7% in the third quarter. MML Investors Services LLC now owns 3,383 shares of the biotechnology company’s stock worth $503,000 after buying an additional 89 shares during the period. Ballentine Partners LLC increased its stake in shares of Repligen by 6.2% in the third quarter. Ballentine Partners LLC now owns 1,807 shares of the biotechnology company’s stock worth $269,000 after buying an additional 105 shares during the period. Finally, CWM LLC increased its stake in shares of Repligen by 36.3% in the third quarter. CWM LLC now owns 428 shares of the biotechnology company’s stock worth $64,000 after buying an additional 114 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.