Repligen (NASDAQ:RGEN) Shares Gap Down – Here’s Why

Repligen Co. (NASDAQ:RGEN)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $152.81, but opened at $144.61. Repligen shares last traded at $144.27, with a volume of 140,346 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have commented on RGEN shares. TD Cowen initiated coverage on shares of Repligen in a report on Monday, February 10th. They issued a “buy” rating and a $200.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Repligen from $203.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on Repligen from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Canaccord Genuity Group upped their price target on Repligen from $165.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Finally, StockNews.com lowered shares of Repligen from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Repligen presently has an average rating of “Hold” and an average price target of $178.64.

Repligen Price Performance

The stock has a fifty day moving average price of $157.16 and a 200-day moving average price of $148.53. 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 market capitalization of $8.18 billion, a PE ratio of -286.12, a P/E/G ratio of 4.54 and a beta of 0.95.

Repligen (NASDAQ:RGEN) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The business 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%. Sell-side analysts forecast that Repligen Co. will post 1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Repligen

Several institutional investors and hedge funds have recently bought and sold shares of RGEN. Signaturefd LLC grew its stake in Repligen by 172.2% during the 4th quarter. Signaturefd LLC now owns 196 shares of the biotechnology company’s stock worth $28,000 after buying an additional 124 shares during the last quarter. Sava Infond d.o.o. acquired a new stake in Repligen in the fourth quarter worth about $29,000. Raiffeisen Bank International AG purchased a new stake in Repligen during the 4th quarter worth approximately $29,000. Resources Management Corp CT ADV acquired a new position in Repligen during the 3rd quarter valued at approximately $37,000. Finally, Quarry LP raised its holdings in shares of Repligen by 796.7% in the third quarter. Quarry LP now owns 269 shares of the biotechnology company’s stock worth $40,000 after buying an additional 239 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.