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Repligen (RGEN) Soars 4.4%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Repligen (RGEN) shares ended the last trading session 4.4% higher at $125.32. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 24.4% loss over the past four weeks.

Earlier this month, the company announced that it has promoted Olivier Loeillot, its current chief commercial officer (CCO), as its new president and chief executive officer (CEO), effective from Sep 1, 2024. This might have driven the share price rally.

This drug developer is expected to post quarterly earnings of $0.33 per share in its upcoming report, which represents a year-over-year change of -37.7%. Revenues are expected to be $154.32 million, down 3.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Repligen, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RGEN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Repligen is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, AnaptysBio, Inc. (ANAB), finished the last trading session 4.9% higher at $24. ANAB has returned -8.3% over the past month.

For AnaptysBio , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.08. This represents a change of +28% from what the company reported a year ago. AnaptysBio currently has a Zacks Rank of #3 (Hold).

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Zacks Investment Research