In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Repligen Corp (RGEN), with a price target of $110. The company’s shares closed on Friday at $91.84, close to its 52-week high of $99.25.
Selvaraju wrote:
“We utilize a discounted cash flow (DCF)-driven analysis approach to value Repligen shares. Our assessment yields an enterprise value of roughly $5.5B. We utilize a roughly 7.5% discount rate (vs. the previous 9%) and 26% effective tax rate. This yields a market value of the firm of $5.7B, assuming roughly $527M in cash as of mid-2020, which reflects the proceeds from the $287.5M convertible note offering completed in July 2019. Given the projected 52M shares outstanding as of mid-2020, this yields a price objective of roughly $110 per share.”
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.6% and a 26.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.
Repligen Corp has an analyst consensus of Moderate Buy, with a price target consensus of $109, a 18.7% upside from current levels. In a report issued on August 5, Craig-Hallum also maintained a Buy rating on the stock with a $108 price target.
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Based on Repligen Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $8.1 million. In comparison, last year the company had a net profit of $2.74 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
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Repligen Corp. provides advanced bioprocessing technologies and solutions used in the process of manufacturing biologic drugs. The firm serves through the following product lines: Chromatography; Filtration; and OEM Products (Proteins).
