Repligen price target raised to $205 from $204 at RBC Capital

RBC Capital raised the firm’s price target on Repligen (RGEN) to $205 from $204 and keeps an Outperform rating on the shares as part of a broader research note on the Life Sciences Tools and Diagnostics sector. The firm is updating its model with “more realistic” multiples, the analyst tells investors in a research note. RBC added however that Repligen plays in some of the fastest-growing markets in the sector, driving 20% organic growth annually from 2020 to 2022, which is “well above peers”. Slowdowns caused by elevated customer inventories and other macro headwinds caused revenue to slow in recent quarters, but RBC believes revenue will re-accelerate throughout FY25 as headwinds dissipate, the firm stated.