State of Michigan Retirement System Sells 100 Shares of Repligen Co. (NASDAQ:RGEN)

State of Michigan Retirement System lessened its holdings in Repligen Co. (NASDAQ:RGEN – Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,053 shares of the biotechnology company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Repligen were worth $2,198,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RGEN. Fortis Capital Advisors LLC bought a new position in shares of Repligen in the 4th quarter valued at about $35,000. Whittier Trust Co. boosted its stake in Repligen by 108.6% during the 1st quarter. Whittier Trust Co. now owns 242 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 126 shares during the last quarter. Allworth Financial LP boosted its stake in Repligen by 62.7% during the 4th quarter. Allworth Financial LP now owns 262 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 101 shares during the last quarter. Achmea Investment Management B.V. bought a new position in Repligen during the 4th quarter worth approximately $49,000. Finally, Covestor Ltd boosted its stake in Repligen by 58.7% during the 1st quarter. Covestor Ltd now owns 484 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 179 shares during the last quarter. Institutional investors own 96.28% of the company’s stock.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGEN. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Repligen from $180.00 to $165.00 in a research note on Wednesday, May 3rd. Royal Bank of Canada raised shares of Repligen from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 6th. Stifel Nicolaus reduced their price objective on shares of Repligen from $210.00 to $200.00 in a research note on Wednesday, June 28th. TheStreet downgraded shares of Repligen from a “b-” rating to a “c+” rating in a report on Monday, May 8th. Finally, Wells Fargo & Company initiated coverage on shares of Repligen in a report on Thursday. They set an “overweight” rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.33.

Insider Buying and Selling

In other news, Director Martin D. Madaus bought 500 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were acquired at an average cost of $156.18 per share, for a total transaction of $78,090.00. Following the completion of the acquisition, the director now owns 1,611 shares in the company, valued at $251,605.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Repligen Stock Up 11.3 %

NASDAQ RGEN opened at $175.34 on Friday. Repligen Co. has a 12-month low of $134.64 and a 12-month high of $262.26. The company has a market capitalization of $9.76 billion, a PE ratio of 59.44, a price-to-earnings-growth ratio of 2.70 and a beta of 0.99. The firm’s 50 day moving average is $156.43 and its 200-day moving average is $167.43.

Repligen (NASDAQ:RGEN – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Repligen had a net margin of 21.58% and a return on equity of 9.14%. The company had revenue of $182.70 million for the quarter, compared to the consensus estimate of $181.43 million. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Repligen Co. will post 2.34 EPS for the current year.

About Repligen

(Free Report)

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.

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