William Blair analyst Matt Larew has maintained their bullish stance on RGEN stock, giving a Buy rating today.
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Matt Larew has given his Buy rating due to a combination of factors, including Repligen’s impressive second-quarter performance and its strong growth outlook. The company exceeded revenue expectations, reporting $182.4 million compared to the anticipated $177.1 million, and also surpassed consensus estimates. This strong financial performance was driven by a 17% non-COVID organic growth, which was higher than the estimated 14%.
Additionally, Repligen raised its guidance for the full year, projecting revenues between $715 million and $735 million, with non-COVID organic growth expectations increased to 12.5% to 15.5%. The company’s robust order momentum, with orders rising both sequentially and year-over-year, further supports the positive outlook. These factors, combined with the company’s position in a bioprocessing market that is returning to normalized levels, underpin the Buy rating as Repligen demonstrates a best-in-class growth profile poised for continued success.
According to TipRanks, Larew is an analyst with an average return of -3.6% and a 49.09% success rate. Larew covers the Healthcare sector, focusing on stocks such as Maravai Lifesciences Holdings, 908 Devices, and AptarGroup.
In another report released today, Craig-Hallum also maintained a Buy rating on the stock with a $0.00 price target.