Repligen (RGEN)
NASDAQ:RGEN
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Repligen
(NASDAQ:RGEN)
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Rating:60Neutral
Price Target:
$120.00
▲(4.97% Upside)
Action:ReiteratedDate:02/25/26
The score is driven by improving fundamentals and a constructive earnings outlook with guided growth and margin expansion. These positives are held back by clearly bearish technicals and an extremely high P/E with no dividend support.
Positive Factors
Recurring consumables revenue
Repligen’s core model sells consumables and single‑use components that are replaced during manufacturing campaigns. That creates an annuity‑like revenue stream tied to customer production scale, supporting durable, repeatable demand and predictable cash generation as biopharma customers scale up commercial manufacturing.
Negative Factors
Low returns on equity
A large equity base combined with only modest 2025 profitability means ROE remains very low. If returns don’t sustainably reaccelerate, the firm may struggle to convert capital into meaningful shareholder returns, limiting long‑term earnings leverage despite strong cash balances.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue
Repligen’s core model sells consumables and single‑use components that are replaced during manufacturing campaigns. That creates an annuity‑like revenue stream tied to customer production scale, supporting durable, repeatable demand and predictable cash generation as biopharma customers scale up commercial manufacturing.
Read all positive factors
Repligen (RGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.44B
Dividend YieldN/A
Average Volume (3M)891.94K
Price to Earnings (P/E)188.5
Beta (1Y)0.97
Revenue Growth11.74%
EPS GrowthN/A
CountryUS
Employees1,778
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.49
Shares Outstanding56,331,110
10 Day Avg. Volume947,608
30 Day Avg. Volume891,938
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)4.38
Price to Sales (P/S)12.48
P/FCF Ratio98.13
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue8.90
Enterprise Value/Gross Profit17.48
Enterprise Value/Ebitda37.19
Forecast
1Y Price Target
$190.00Price Target Upside66.20% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)1.99
Revenue Forecast (FY)$826.93M
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 bind...
How the Company Makes Money
Repligen makes money primarily by selling bioprocessing products and related consumables to biopharmaceutical and life sciences customers, generating revenue as these products are used across development and commercial-scale manufacturing. A signi...
Repligen Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
Overall the call was constructive and optimistic: management reported solid revenue acceleration (Q4 and full‑year growth above expectations), meaningful margin expansion, strong cash generation, successful product launches and acquisition integrations, and provided growth and margin guidance for 2026. The company also highlighted several near-term headwinds—muted capital equipment demand, a gene therapy customer-facing headwind, tariff and policy uncertainty, M&A/FX dilution to reported margins, and increased investments in Fit-for-Growth—that temper upside visibility. On balance, the positives (broad-based franchise strength, margin expansion, strong cash and funnel, and prudent but constructive guidance) substantially outweigh the cited risks.Positive Updates
Quarter and Full-Year Revenue Growth
Q4 revenue of $198M, up 18% reported and 14% organic year-over-year; full-year 2025 revenue of $738M, up 16% reported and on an organic non-COVID basis.
Negative Updates
Muted Capital Equipment / Downstream Demand
Capital equipment revenue effectively flat year-over-year (though up 10% vs prior quarter); management described relatively muted equipment demand and tough comps for downstream systems, with downstream/CapEx expected to be broadly flat in 2026 absent macro improvement.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarter and Full-Year Revenue Growth
Q4 revenue of $198M, up 18% reported and 14% organic year-over-year; full-year 2025 revenue of $738M, up 16% reported and on an organic non-COVID basis.
Read all positive updates
Company Guidance
Repligen guided 2026 revenue of $810–840M (10%–14% reported, 9%–13% organic), reflecting roughly a 1‑point FX tailwind and a multi‑point (≈2–3 point) gene‑therapy platform headwind; by franchise the plan assumes Filtration and Chromatography/Proteins grow in the low double‑digits (Filtration bearing the gene‑therapy drag) and Analytics grows >20%. Management expects adjusted gross margin of 53.6%–54.1% (≈+125 bps YoY at the midpoint, with ~50 bps tariff‑surcharge headwind), adjusted income from operations of $122–130M (implying ~150 bps operating‑margin expansion at the midpoint), adjusted other income ≈$18M, an adjusted effective tax rate of 22%–23%, and adjusted diluted EPS of $1.93–$2.01 (+$0.22–$0.30 vs. 2025, ≈+15% at the midpoint). They assume ~48% of revenue in H1 (Q1 down only low single digits sequentially from Q4), modest Q1 gross‑margin expansion, an OpEx step‑up in Q1 with flat‑to‑modestly higher OpEx thereafter, CapEx of ~3%–4% of revenue, and guidance that reflects euro–dollar FX similar to H2 2025 plus several million dollars of tariff surcharges.Repligen Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
72
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 738.26M | 634.44M | 632.36M | 801.54M | 670.53M |
| Gross Profit | 347.62M | 274.64M | 278.44M | 455.71M | 391.25M |
| EBITDA | 164.30M | 80.26M | 145.32M | 277.31M | 203.27M |
| Net Income | 48.89M | -25.51M | 35.60M | 185.96M | 128.29M |
Balance Sheet | |||||
| Total Assets | 2.95B | 2.83B | 2.83B | 2.53B | 2.36B |
| Cash, Cash Equivalents and Short-Term Investments | 767.63M | 757.36M | 751.32M | 623.76M | 603.81M |
| Total Debt | 689.95M | 686.25M | 711.80M | 422.96M | 366.05M |
| Total Liabilities | 843.57M | 856.95M | 866.34M | 620.90M | 608.29M |
| Stockholders Equity | 2.11B | 1.97B | 1.96B | 1.91B | 1.75B |
Cash Flow | |||||
| Free Cash Flow | 93.90M | 142.49M | 74.93M | 38.74M | 47.74M |
| Operating Cash Flow | 117.42M | 175.39M | 113.92M | 172.08M | 119.02M |
| Investing Cash Flow | -298.47M | -86.38M | -123.28M | -233.24M | -221.17M |
| Financing Cash Flow | -15.21M | -82.90M | 248.96M | -13.34M | 961.00K |
Repligen Technical Analysis
Negative
114.32
Price Trends
137.82
Negative
148.96
Negative
138.72
Negative
Market Momentum
-6.33
Negative
34.55
Neutral
32.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGEN, the sentiment is Negative. The current price of 114.32 is below the 20-day moving average (MA) of 120.43, below the 50-day MA of 137.82, and below the 200-day MA of 138.72, indicating a bearish trend. The MACD of -6.33 indicates Negative momentum. The RSI at 34.55 is Neutral, neither overbought nor oversold. The STOCH value of 32.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RGEN.
Repligen Risk Analysis
Repligen disclosed 41 risk factors in its most recent earnings report. Repligen reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Repligen Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $4.05B | 40.58 | 8.52% | ― | 11.49% | -2.89% | |
65 Neutral | $8.10B | 26.66 | 14.68% | 1.50% | 2.50% | 25.05% | |
63 Neutral | $3.87B | 24.79 | 9.72% | 0.29% | 9.19% | 23.06% | |
60 Neutral | $6.44B | 188.46 | 2.37% | ― | 11.74% | ― | |
60 Neutral | $5.68B | -16.79 | -5.61% | ― | 6.23% | 17.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $4.78B | -6.01 | -23.70% | 1.11% | 5.43% | -245.18% |
* Healthcare Sector Average
RGEN
Repligen
114.42
-22.70
-16.55%
ATR
AptarGroup
124.69
-22.68
-15.39%
MMSI
Merit Medical Systems
69.31
-33.96
-32.88%
TFX
Teleflex
110.49
-27.29
-19.81%
STVN
Stevanato Group
13.62
-6.64
-32.79%
BLCO
Bausch + Lomb Corporation
15.89
0.89
5.93%
Repligen Corporate Events
Business Operations and StrategyExecutive/Board Changes
Repligen Appoints Martin Madaus as New Board Chair
Positive
Jan 6, 2026
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 d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.