Repligen (RGEN) AI Stock Analysis

• Market Cap: $9.10B
• Dividend Yield: N/A
• Average Volume (3M): 557.11K
• Price to Earnings (P/E): 6304.3
• Beta (1Y): 0.94
• Revenue Growth: 11.74%
• EPS Growth: N/A
• Country: US
• Employees: 1,778
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.46
• Shares Outstanding: 56,290,750
• 10 Day Avg. Volume: 626,301
• 30 Day Avg. Volume: 557,109
• PEG Ratio: 1.84
• Price to Book (P/B): 4.08
• Price to Sales (P/S): 12.69
• P/FCF Ratio: 56.51
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 4.18
• Enterprise Value/Gross Profit: 8.89
• Enterprise Value/Ebitda: 20.74
• 1Y Price Target: $190.22
• Price Target Upside: 17.41% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): 2.08
• Revenue Forecast (FY): $822.46M

• Rating: 67 Neutral
• Price Target: $184.00 ▲(13.57% Upside)

Overall score reflects solid financial stability and improving operations, supported by bullish technicals and an upbeat earnings call with raised guidance. The primary offset is valuation risk driven by an extremely elevated P/E and no dividend yield support.

Positive Factors

Product Innovation / Portfolio Expansion

The launch of AAV9/AAV8 affinity and HiPer QA resins expands Repligen's proteins portfolio and addresses next-gen modality needs. Durable impact: strengthens product leadership in chromatography, drives recurring consumable sales, and positions the company to capture long-term AAV and protein purification demand.

Broad-based Organic Growth & Geographic Diversification

Consistent, multi-franchise growth with analytics and APAC strength signals diversified end-market traction. Durable effect: reduces dependence on any single product or region, supports cross-selling into pharma and CDMOs, and underpins sustainable revenue expansion as biologics demand grows globally.

Balance Sheet Stability and Cash Generation

Manageable leverage and steady cash conversion give Repligen financial flexibility for R&D, application labs, and targeted M&A. Durable fundamentals: a solid balance sheet and positive FCF reduce refinancing risk and enable multi-year investments that support product pipeline and margin expansion.

Negative Factors

Weak Net Profitability and Low Returns

Despite revenue recovery, near-zero net margins and minimal ROE indicate limited ability to translate sales into sustainable shareholder returns. Over the medium term this constrains reinvestment capacity and makes growth outcomes highly dependent on continued margin improvement and operational leverage.

China Market Volatility

China showed a strong rebound but then softened, highlighting regional cyclicality. Durable risk: heavy exposure to a volatile APAC market can cause sizeable year-to-year revenue swings and complicates forecasting, requiring sustained diversification or localized go-to-market strategies to stabilize growth.

Segment Constraints and Customer Concentration Risk

Filtration underperformance and a single gene-therapy customer's outsized impact reveal structural concentration in product mix and customers. That reduces revenue predictability and means segment-level softness or a large customer shift can materially affect company results over multiple quarters.

Repligen Business Overview & Revenue Model

Company Description

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. The company's chromatography products include OPUS pre-packed chromatography columns, which are used in the purification of biologics; and OPUS smaller-scale columns that are used in the high throughput process development screening, viral clearance validation studies, and scale down validation of chromatography processes. It also offers ELISA test kits; and chromatography resins under the CaptivA brand. In addition, the company provides filtration products, such as XCell Alternating Tangential Flow systems that are filtration devices used in upstream perfusion and cell culture processing; TangenX flat sheet cassettes, which are used in downstream biologic drug concentration and formulation processes; KrosFlo tangential flow filtration and tangential flow depth filtration systems; Spectra/Por laboratory and process dialysis products, and SpectraFlo dynamic dialysis systems; and ProConnex single-use hollow fiber. Further, it provides process analytics products, such as slope spectroscopy systems under the SoloVPE, FlowVPE, and FlowVPX brands. The company sells its products to life sciences, biopharmaceutical, and diagnostics companies; laboratory researchers; and contract manufacturing organizations. Repligen Corporation has collaboration agreements with Navigo Proteins GmbH to develop multiple affinity ligands. Repligen Corporation was incorporated in 1981 and is headquartered in Waltham, Massachusetts.

How the Company Makes Money

Repligen generates revenue through the sale of its bioprocessing products and solutions to pharmaceutical and biotechnology companies. The company's revenue model is primarily based on product sales, which include consumables, instruments, and systems used in the biomanufacturing process. Key revenue streams come from the sale of chromatography resins, filtration systems, and other essential bioprocessing technologies. Additionally, Repligen benefits from long-term partnerships with major pharmaceutical companies, which often involve supply agreements for its proprietary products. The company's focus on innovation and expanding its product portfolio, coupled with increasing demand for biologics, further contributes to its earnings.

Repligen Financial Statement Overview

Summary

Repligen demonstrates moderate financial health with growth in revenue and operational efficiency. The balance sheet is stable with manageable leverage, though profitability metrics like net profit margin and return on equity are areas for improvement. Cash flow generation is positive, supporting operational needs. Overall, the company is on a stable trajectory with opportunities to enhance profitability and cash flow efficiency.

Income Statement

Repligen's income statement shows moderate growth and profitability. The TTM (Trailing-Twelve-Months) revenue growth rate is 5.04%, indicating a recovery from previous declines. Gross profit margin improved to 47.90% TTM, reflecting efficient cost management. However, net profit margin remains low at 0.25% TTM, suggesting challenges in converting revenue into profit. EBIT and EBITDA margins have improved, indicating better operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.33 TTM, indicating manageable leverage. The equity ratio is healthy, suggesting a strong asset base. However, return on equity is low at 0.09% TTM, highlighting limited returns on shareholder investments. Overall, the balance sheet shows stability with room for improvement in profitability.

Cash Flow

Cash flow analysis reveals positive trends with a free cash flow growth rate of 1.66% TTM, indicating improved cash generation. The operating cash flow to net income ratio is nearly 1, suggesting good cash conversion. However, the free cash flow to net income ratio is 0.81 TTM, indicating some challenges in translating profits into free cash flow. Overall, cash flow management appears solid with potential for further optimization.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.79B	634.44M	632.36M	801.54M	670.53M	366.26M
Gross Profit	843.54M	274.64M	278.44M	455.71M	391.25M	194.35M
EBITDA	361.40M	80.26M	145.32M	277.31M	203.27M	98.42M
Net Income	33.30M	-25.51M	35.60M	185.96M	128.29M	59.93M
Balance Sheet
Total Assets	2.92B	2.83B	2.83B	2.53B	2.36B	1.90B
Cash, Cash Equivalents and Short-Term Investments	748.75M	757.36M	751.32M	623.76M	603.81M	717.29M
Total Debt	688.87M	686.25M	711.80M	422.96M	366.05M	275.42M
Total Liabilities	840.62M	856.95M	866.34M	620.90M	608.29M	373.74M
Stockholders Equity	2.08B	1.97B	1.96B	1.91B	1.75B	1.53B
Cash Flow
Free Cash Flow	298.39M	142.49M	74.93M	38.74M	47.74M	36.28M
Operating Cash Flow	357.98M	175.39M	113.92M	172.08M	119.02M	62.63M
Investing Cash Flow	-324.55M	-86.38M	-123.28M	-233.24M	-221.17M	-201.38M
Financing Cash Flow	-28.38M	-82.90M	248.96M	-13.34M	961.00K	305.92M

Repligen Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 162.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGEN, the sentiment is Neutral. The current price of 162.02 is below the 20-day moving average (MA) of 165.24, above the 50-day MA of 161.05, and above the 200-day MA of 136.78, indicating a neutral trend. The MACD of 1.10 indicates Positive momentum. The RSI at 45.54 is Neutral, neither overbought nor oversold. The STOCH value of 26.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RGEN.

Repligen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MMSI	77 Outperform	$4.76B	42.13	8.30%	―	11.49%	-2.89%
RGEN	67 Neutral	$9.10B	6,304.28	0.08%	―	11.74%	―
STVN	67 Neutral	$5.73B	36.91	9.81%	0.29%	9.19%	23.06%
TFX	61 Neutral	$4.62B	-14.00	-7.90%	1.11%	5.43%	-245.18%
ATR	60 Neutral	$8.21B	20.05	15.80%	1.50%	2.50%	25.05%
BLCO	55 Neutral	$6.18B	-19.87	-4.69%	―	6.23%	17.53%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Repligen Corporate Events

Repligen Appoints Martin Madaus as New Board Chair

On January 6, 2026, Repligen Corporation announced that its board has elected independent director Dr. Martin D. Madaus as Chair of the Board, effective March 13, 2026, succeeding Executive Chair Tony Hunt, who will retire from the board on that date after more than a decade of leadership and will remain an advisor to the company through March 2027. The transition underscores Repligen’s effort to maintain strong governance and continuity in its bioprocessing-focused strategy, with management highlighting Madaus’s 36 years of industry experience—including his tenure leading Millipore’s transformation into a life sciences leader—as a key asset expected to support Repligen’s next phase of growth while reassuring stakeholders about stability in its leadership and long-term direction.

The most recent analyst rating on (RGEN) stock is a Buy with a $200.00 price target. To see the full list of analyst forecasts on Repligen stock, see the RGEN Stock Forecast page.