Repligen Corp Stock Research

Market Summary

USD168.36-1.21

Market Closed

-0.71%

RGEN Alerts

Big jump in Earnings (Y/Y)

RGEN Stock Price

RGEN RSI Chart

RGEN Valuation

Market Cap

9.4B

Price/Earnings (Trailing)

50.3

Price/Sales (Trailing)

11.67

EV/EBITDA

32.55

Price/Free Cashflow

107.21

RGEN Price/Sales (Trailing)

RGEN Profitability

EBT Margin

27.34%

Return on Equity

9.73%

Return on Assets

7.37%

Free Cashflow Yield

0.93%

RGEN Fundamentals

RGEN Revenue

Revenue (TTM)

801.5M

Revenue Y/Y

0.13%

Revenue Q/Q

-6.96%

RGEN Earnings

Earnings (TTM)

186.0M

Earnings Y/Y

67.4%

Earnings Q/Q

20.6%

Price Action

52 Week Range

137.21262.26

(Low)(High)

Last 7 days

5.1%

Last 30 days

-4.5%

Last 90 days

-0.6%

Trailing 12 Months

-10.5%

RGEN Financial Health

Current Ratio

2.47

RGEN Investor Care

Shares Dilution (1Y)

0.43%

Diluted EPS (TTM)

3.24

Peers (Alternatives to Repligen)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
A	40.8B	6.8B	0.60%	4.89%	32.54	5.96	8.37%	3.64%
ILMN	36.7B	4.6B	17.13%	-33.44%	-8.34	8.02	1.28%	-677.95%
MTD	33.9B	3.9B	7.92%	11.43%	38.83	8.64	5.43%	13.46%
TECH	11.7B	1.1B	-0.96%	-31.21%	44.48	10.41	8.77%	24.82%
MID-CAP
RGEN	9.4B	801.5M	-4.54%	-10.49%	50.3	11.67	19.54%	44.95%
SMALL-CAP
PACB	2.6B	128.3M	32.04%	27.25%	-8.35	20.44	-1.69%	-73.40%
ADPT	1.3B	185.3M	8.61%	-36.38%	-6.31	6.82	20.06%	3.42%
NSTG	462.5M	127.3M	6.80%	-71.51%	-2.9	3.63	-12.28%	-38.43%
QTRX	420.1M	105.5M	6.82%	-61.39%	-4.34	3.98	-4.55%	-67.63%
BNGO	329.9M	27.8M	-14.62%	-56.98%	-2.49	11.87	54.62%	-83.06%
CDXS	272.5M	138.6M	-10.58%	-79.92%	-8.11	1.97	32.30%	-57.86%
HBIO	176.7M	113.3M	54.41%	-32.37%	-18.57	1.56	-4.68%	-3204.17%
CDXC	114.1M	72.0M	-6.71%	-37.80%	-6.91	1.58	6.82%	39.11%
CSBR	54.5M	54.1M	-13.17%	-50.55%	504.68	1.01	21.80%	-72.38%

Financials for Repligen

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.0%	802	801	779	734	671
S&GA Expenses	0.5%	216	215	209	199	184
R&D Expenses	4.8%	44.00	42.00	41.00	39.00	34.00
Costs and Expenses	-1.9%	577	588	573	543	503
EBITDA	7.5%	271	252	248	220	-
EBITDA Margin	7.5%	0.34*	0.31*	0.30*	0.30*	-
Earnings Before Taxes	9.0%	219	201	195	179	154
EBT Margin	9.0%	0.27*	0.25*	0.25*	0.24*	-
Interest Expenses	-69.2%	1.00	4.00	6.00	9.00	11.00
Net Income	11.8%	186	166	159	146	128
Net Income Margin	11.8%	0.23*	0.21*	0.20*	0.20*	-
Free Cahsflow	37.8%	87.00	63.00	45.00	46.00	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.5%	2,525	2,463	2,445	2,384	2,358
Current Assets	4.7%	998	953	976	945	932
Cash Equivalents	-8.7%	523	573	597	585	604
Inventory	-1.8%	238	243	239	214	184
Net PPE	9.4%	191	174	168	148	125
Goodwill	0.5%	856	851	854	859	860
Liabilities	-2.1%	614	627	640	617	608
Current Liabilities	-1.6%	404	411	424	424	375
Shareholder's Equity	4.1%	1,911	1,835	1,805	1,766	1,750
Retained Earnings	14.0%	397	349	308	258	194
Additional Paid-In Capital	0.4%	1,547	1,541	1,534	1,529	1,572
Shares Outstanding	0.1%	56.00	56.00	55.00	55.00	55.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	7.7%	172	160	141	133	119
Share Based Compensation	-2.7%	27.00	28.00	29.00	29.00	28.00
Cashflow From Investing	-33.9%	-233	-174	-249	-240	-221
Cashflow From Financing	-3.9%	-13.34	-12.83	-14.20	-11.57	1.00

Risks for RGEN

What is the probability of a big loss on RGEN?

67.7%

Probability that Repligen stock will be more than 20% underwater in next one year

32.7%

Probability that Repligen stock will be more than 30% underwater in next one year.

19.2%

Probability that Repligen stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does RGEN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Repligen was unfortunately bought at previous high price.

Drawdowns

Returns for RGEN

Cumulative Returns on RGEN

37.3%

10-Year Cumulative Returns

29.9%

7-Year Cumulative Returns

36%

5-Year Cumulative Returns

20.4%

3-Year Cumulative Returns

What are the long-term rolling returns for RGEN?

FIve years rolling returns for Repligen.

Annualized Returns

Which funds bought or sold RGEN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-24	PALISADE CAPITAL MANAGEMENT, LP	reduced	-2.00	-4,975,780	38,957,200	1.05%
2023-03-23	MetLife Investment Management, LLC	reduced	-2.01	-738,731	5,782,610	0.05%
2023-03-17	American Portfolios Advisors	added	0.17	29,136	218,170	0.01%
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-2.14	-59,136	448,864	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-66.97	-15,233,900	6,495,070	0.01%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-0.12	-15,000	145,000	-%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	added	3.01	-1,073,480	14,743,500	0.92%
2023-03-06	Rockefeller Capital Management L.P.	new	-	3,000	3,000	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	5,757	5,757	-%
2023-02-28	Voya Investment Management LLC	reduced	-0.23	-378,569	3,518,430	-%

Latest Funds Activity

Are funds buying RGEN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own RGEN

No. of Funds

RGEN Alerts

Big jump in Earnings (Y/Y)

Repligen News

Schedule 13G FIlings of Repligen

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 15, 2023	eddleman roy t	4.87%	2,705,689	SC 13G/A
Feb 14, 2023	price t rowe associates inc /md/	9.1%	5,070,657	SC 13G/A
Feb 09, 2023	vanguard group inc	9.37%	5,205,155	SC 13G/A
Jan 23, 2023	blackrock inc.	11.0%	6,123,594	SC 13G/A
Sep 08, 2022	blackrock inc.	10.2%	5,686,997	SC 13G
Feb 14, 2022	price t rowe associates inc /md/	5.5%	3,042,655	SC 13G
Feb 10, 2022	vanguard group inc	8.89%	4,912,769	SC 13G/A
Feb 01, 2022	blackrock inc.	9.4%	5,189,189	SC 13G/A
Feb 10, 2021	vanguard group inc	8.12%	4,410,742	SC 13G/A
Feb 05, 2021	eddleman roy t	6.65%	3,500,000	SC 13G/A

RGEN Fair Value

Repligen fair value in different scenarios

The table shows the Fair Value estimates for Repligen for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	96.61 -42.62%	125.13 -25.68%	240.22 42.68%	394.48 134.31%	633.95 276.54%
Current Inflation	88.66 -47.34%	112.97 -32.90%	211.21 25.45%	341.26 102.70%	542.87 222.45%
Very High Inflation	78.87 -53.15%	98.29 -41.62%	177.13 5.21%	279.73 66.15%	438.53 160.47%

Historical Repligen Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Repligen

View All Filings

Date Filed	Form Type	Document
Mar 24, 2023	PRE 14A	PRE 14A
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 02, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading
Mar 01, 2023	4	Insider Trading

Latest Insider Trading transactions for RGEN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	KURIYEL RALF	sold (taxes)	-234,436	188	-1,247	senior vp, r&d
2023-03-03	Snodgres Jon	sold (taxes)	-690,712	188	-3,674	chief financial officer
2023-03-03	Bylund James	sold (taxes)	-39,480	188	-210	chief operating officer
2023-03-03	Hunt Anthony	acquired	-	-	18,584	chief executive officer
2023-03-03	Snodgres Jon	acquired	-	-	8,795	chief financial officer
2023-03-03	Gebski Christine	sold (taxes)	-23,688	188	-126	see remarks
2023-03-03	Bylund James	acquired	-	-	625	chief operating officer
2023-03-03	Gebski Christine	acquired	-	-	375	see remarks
2023-03-03	KURIYEL RALF	acquired	-	-	3,591	senior vp, r&d
2023-03-03	Hunt Anthony	sold (taxes)	-1,549,870	188	-8,244	chief executive officer

About Repligen

Tony J. Hunt

www.repligen.com

1850

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.

RGEN Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenue:

Revenue

$ 801,536

$ 670,534

$ 366,260

Costs and operating expenses:

Cost of product revenue

345,830

279,280

156,634

Research and development

43,936

34,274

20,182

Selling, general and administrative

215,829

183,866

119,621

Contingent consideration

(28,729)

5,865

Total costs and operating expenses

576,866

503,285

296,437

Income from operations

224,670

167,249

69,823

Other (expenses) income:

Investment income

6,978

176

1,741

Interest expense

(1,162)

(11,278)

(10,768)

Amortization of debt issuance costs

1,815

1,436

1,365

Other expenses

(9,531)

(1,168)

(214)

Other expenses, net

(5,530)

(13,706)

(10,606)

Income before income taxes

219,140

153,543

59,217

Income tax provision (benefit)

33,181

25,252

(709)

Net income

$ 185,959

$ 128,291

$ 59,926

Earnings per share:

Basic

$ 3.35

$ 2.33

$ 1.14

Diluted

$ 3.24

$ 2.24

$ 1.11

Weighted average common shares outstanding:

Basic

55,460

55,015

52,554

Diluted

57,455

57,264

53,892

Net income

$ 185,959

$ 128,291

$ 59,926

Other comprehensive income (loss):

Foreign currency translation adjustment

(17,508)

(18,971)

17,112

Comprehensive income

168,451

109,320

77,038

Products

Revenue:

Revenue

801,183

670,319

^[1]

366,136

^[2]

Royalty and Other Revenue

Revenue:

Revenue

$ 353

$ 215

$ 124

[1]	2021 revenue for filtration products includes revenue related to Polymem from July 1, 2021, as well as BioFlex and NTM from December 16, 2021 through December 31, 2021. 2021 revenue for proteins products includes revenue related to Avitide from September 20, 2021 through December 31, 2021.
[2]	2020 revenue for filtration products includes revenue related to EMT from July 13, 2020, NMS from October 20, 2020, and ARTeSYN from December 3, 2020 through December 31, 2020.

RGEN Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 523,458	$ 603,814
Marketable securities held to maturity	100,299	0
Accounts receivable, net of reserves of $1,365 and $1,417 at December 31, 2022 and December 31, 2021, respectively	116,247	117,420
Inventories, net	238,277	184,494
Prepaid expenses and other current assets	19,837	25,949
Total current assets	998,118	931,677
Property, plant and equipment, net	190,673	124,964
Intangible assets, net	353,676	337,274
Goodwill	855,513	860,362
Deferred tax assets	840	1,903
Operating lease right of use assets	125,023	101,559
Other noncurrent assets	815	615
Total noncurrent assets	1,526,540	1,426,677
Total assets	2,524,658	2,358,354
Current liabilities:
Accounts payable	27,554	36,203
Operating lease liability	6,957	8,303
Current contingent consideration	13,950	0
Accrued liabilities	71,120	75,498
Convertible Senior Notes, net	284,615	255,258
Total current liabilities	404,196	375,262
Deferred tax liabilities	23,000	33,480
Noncurrent operating lease liability	131,389	102,492
Noncurrent contingent consideration	51,559	94,238
Other noncurrent liabilities	3,814	2,815
Total noncurrent liabilities	209,762	233,025
Total liabilities	613,958	608,287
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.01 par value; 80,000,000 shares authorized; 55,557,698 shares at December 31, 2022 and 55,321,457 shares at December 31, 2021 issued and outstanding	556	553
Additional paid-in capital	1,547,266	1,572,340
Accumulated other comprehensive loss	(34,394)	(16,886)
Accumulated earnings	397,272	194,060
Total stockholders' equity	1,910,700	1,750,067
Total liabilities and stockholders' equity	$ 2,524,658	$ 2,358,354