American Century Companies Inc., a prominent investment management firm, has recently increased its holdings in Repligen Co. (NASDAQ:RGEN), a leading biotechnology company. According to the latest filing with the Securities and Exchange Commission (SEC), American Century Companies Inc. now owns 109,461 shares of Repligen’s stock, representing a 2.9% increase during the first quarter. The acquisition of an additional 3,088 shares has boosted American Century Companies Inc.’s ownership stake in Repligen to about 0.20% with a total value of $18,429,000.
Repligen recently released its earnings results for the quarter ending on August 2nd, which have surpassed analysts’ expectations. The company reported earnings per share (EPS) of $0.53, surpassing consensus estimates by $0.04. This positive performance reflects the biotechnology company’s strong net margin of 18.92% and return on equity of 7.83%. However, Repligen’s revenue for the same quarter stood at $159.20 million, falling short of analysts’ predictions of $165.93 million. Furthermore, this figure represents a decline of 23.3% compared to the previous year’s corresponding period when the company achieved an EPS of $0.91.
Going forward, financial experts anticipate that Repligen will post an EPS of 1.83 for the current fiscal year based on their research analysis and market trends analysis.
In recent news involving Repligen, Director Karen A. Dawes conducted a transaction on August 29th by selling 850 shares of Repligen stock at an average price of $171.38 each share resulting in a total value of $145,673. Following this transaction, Dawes now owns approximately 83,741 shares in the company with an estimated value of $14,351,532.58. The details of this sale were disclosed through a legal filing with the Securities & Exchange Commission and can be accessed on the SEC website. Currently, company insiders hold 1.10% of Repligen’s stock.
These recent developments in Repligen’s ownership and financial performance demonstrate its attractiveness to investors and its positive market outlook. As the company continues to advance in the biotechnology sector, it is poised to offer significant opportunities for growth and innovation. With a track record of surpassing earnings estimates and maintaining strong profitability, Repligen remains well-positioned for continued success in the industry.
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Institutional Investors Show Increased Interest in Repligen as Analysts Provide Mixed Ratings
In recent times, several institutional investors have made significant changes to their positions in the well-known biotechnology company, Repligen. Fortis Capital Advisors LLC, for example, purchased a new position in Repligen shares during the fourth quarter of the previous year. The value of this position was estimated at $35,000. Similarly, Clearstead Advisors LLC also bought a new stake in Repligen shares in the first quarter of this year. This acquisition was valued at approximately $38,000.
Another notable institutional investor, Whittier Trust Co., experienced a significant increase in its holdings of Repligen shares. In fact, its holdings rose by 108.6% during the first quarter of this year. Whittier Trust Co. now owns 242 shares of the biotechnology company’s stock with an approximate value of $41,000 after purchasing an additional 126 shares during the last quarter.
Additionally, Achmea Investment Management B.V., another institutional investor, recently acquired a new position in Repligen shares with a value of around $49,000 during the fourth quarter of last year.
Covestor Ltd witnessed substantial growth in its stake in Repligen as well. Its holdings increased by 58.7% during the first quarter of this year due to acquiring an additional 179 shares. Covestor Ltd now owns 484 shares of Repligen’s stock with an estimated worth of $91,000.
It is interesting to note that hedge funds and other institutional investors currently own nearly 97.64% of Repligen’s outstanding stock.
On Friday, RGEN stock opened at $173.91 per share. The company boasts a market capitalization amounting to approximately $9.70 billion and possesses a PE ratio of 71.86 along with a price-to-earnings-growth ratio of 3.78. Moreover, Repligen has a beta of 1.01, reflecting its sensitivity to market movements.
Over the past year, the company’s stock has achieved a low of $134.64 and a high of $235.06. Presently, Repligen Co.’s 50-day moving average price stands at $160.63, while its two-hundred-day moving average price is recorded as $165.09.
Various analyst reports have recently discussed RGEN stock. For instance, StockNews.com initiated coverage of Repligen shares in a research note published on Thursday, August 17th. In this report, they assigned a “sell” rating to the stock.
On the other hand, Stephens released a research note on August 3rd that raised their price objective for Repligen from $180.00 to $200.00 and provided an “overweight” rating for the company.
Similarly, Craig Hallum reduced their target price for Repligen from $207.00 to $200.00 and maintained a “buy” rating in another research report issued on August 3rd.
Stifel Nicolaus also lowered the price target on RGEN shares from $210.00 to $200.00 in a report published on June 28th.
Lastly, Royal Bank of Canada increased their target price for Repligen shares from $157.00 to $195.00 and assigned an “outperform” rating to the company in a research note dated August 3rd.
According to Bloomberg data gathered from various analysts’ ratings, it is shown that Repligen currently holds a consensus rating of “Moderate Buy.” Furthermore, analysts have established an average price target of approximately $199.44 for the company’s stock.
In conclusion, Repligen has witnessed significant interest and changes among institutional investors lately, with several acquiring new positions or increasing their holdings in the biotechnology firm’s shares. Furthermore, the company’s stock performance has been closely analyzed by various analysts, who have offered a range of ratings and price targets. As always, potential investors should conduct thorough research and analysis before making any investment decisions.
