What Happened?
Shares of biopharma manufacturing company Repligen Corporation (NASDAQ: RGEN) jumped 4.4% in the afternoon session after investment firm Stifel reiterated its Buy rating and maintained a $207.00 price target on the stock.
The firm's positive stance is based on customer research into bioprocessing trends, which revealed "good momentum & differentiation and modest competitive risk" for Repligen's important ATF (alternating tangential flow) technology. Stifel's analysis suggests this should continue to drive growth for the company. The broader market sentiment also appears favorable, with the single-use downstream bioprocessing market, where Repligen is a key player, valued at $6 billion in 2024 and projected to reach $14 billion by 2034. This growth is driven by advances in monoclonal antibodies, biosimilars, and vaccine production.
After the initial pop the shares cooled down to $118.97, up 4.7% from previous close.
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What Is The Market Telling Us
Repligen’s shares are very volatile and have had 24 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock dropped 3.5% on the news that Jefferies lowered its price target on the stock. Analyst Matthew Stanton from Jefferies reaffirmed a "Hold" rating on the life sciences company but cut the 12-month price target to $135 from $145. While the analyst's rating on the stock remains unchanged, the reduction in the price target suggests a more cautious outlook on the company's future valuation. This adjustment by a Wall Street firm often prompts investors to reassess their own expectations, leading to selling pressure on the shares.
Repligen is down 16.8% since the beginning of the year, and at $118.97 per share, it is trading 31.7% below its 52-week high of $174.24 from January 2025. Investors who bought $1,000 worth of Repligen’s shares 5 years ago would now be looking at an investment worth $808.49.
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