William Blair analyst Matt Larew has maintained their bullish stance on RGEN stock, giving a Buy rating on October 21.
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Matt Larew has given his Buy rating due to a combination of factors including Repligen’s impressive third-quarter performance, which exceeded expectations and led to an upward revision in revenue guidance. The company reported a revenue of $188.8 million, surpassing both the internal and consensus estimates, and demonstrated a robust non-COVID organic growth rate of 18%.
Repligen’s consistent performance is further evidenced by five consecutive quarters of organic growth, with the last three quarters showing double-digit increases. The growth was broad-based, with significant contributions from all franchises and regions, particularly Asia-Pacific. Additionally, the company saw over 20% growth in capital equipment, consumables, biopharma, and CDMOs, alongside a sequential increase in orders, reinforcing the positive outlook.
According to TipRanks, Larew is a 2-star analyst with an average return of 0.2% and a 47.76% success rate. Larew covers the Healthcare sector, focusing on stocks such as AptarGroup, Thermo Fisher, and Option Care Health.
In another report released on October 21, Craig-Hallum also maintained a Buy rating on the stock with a $0.00 price target.