NasdaqGS:RGEN

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Repligen Corporation develops and commercializes bioprocessing technologies and systems that are used in biological drug manufacturing process in North America, Europe, the Asia Pacific, and internationally.


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has Repligen's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: RGEN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.6%

RGEN

1.4%

US Life Sciences

2.4%

US Market


1 Year Return

69.6%

RGEN

21.2%

US Life Sciences

9.2%

US Market

Return vs Industry: RGEN exceeded the US Life Sciences industry which returned 23.9% over the past year.

Return vs Market: RGEN exceeded the US Market which returned 8.5% over the past year.


Shareholder returns

RGENIndustryMarket
7 Day-1.6%1.4%2.4%
30 Day11.0%9.8%10.2%
90 Day34.6%14.9%3.4%
1 Year69.6%69.6%21.5%21.2%11.6%9.2%
3 Year223.2%223.2%82.9%81.7%33.7%24.9%
5 Year230.6%230.6%128.8%125.9%59.7%41.8%

Price Volatility Vs. Market

How volatile is Repligen's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Repligen undervalued compared to its fair value and its price relative to the market?

276.47x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: RGEN ($127.15) is trading above our estimate of fair value ($60.71)

Significantly Below Fair Value: RGEN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: RGEN is poor value based on its PE Ratio (276.5x) compared to the Life Sciences industry average (37.3x).

PE vs Market: RGEN is poor value based on its PE Ratio (276.5x) compared to the US market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: RGEN is poor value based on its PEG Ratio (7.2x)


Price to Book Ratio

PB vs Industry: RGEN is overvalued based on its PB Ratio (6.2x) compared to the US Life Sciences industry average (5.8x).


Next Steps

Future Growth

How is Repligen forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

38.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RGEN's forecast earnings growth (38.1% per year) is above the savings rate (2.2%).

Earnings vs Market: RGEN's earnings (38.1% per year) are forecast to grow faster than the US market (22.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: RGEN's revenue (20% per year) is forecast to grow faster than the US market (8.9% per year).

High Growth Revenue: RGEN's revenue (20% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: RGEN's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has Repligen performed over the past 5 years?

24.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: RGEN has a large one-off loss of $11.1M impacting its March 31 2020 financial results.

Growing Profit Margin: RGEN's current net profit margins (8.1%) are lower than last year (10.1%).


Past Earnings Growth Analysis

Earnings Trend: RGEN's earnings have grown significantly by 24.2% per year over the past 5 years.

Accelerating Growth: RGEN's earnings growth over the past year (8.9%) is below its 5-year average (24.2% per year).

Earnings vs Industry: RGEN earnings growth over the past year (8.9%) underperformed the Life Sciences industry 10.6%.


Return on Equity

High ROE: RGEN's Return on Equity (2.2%) is considered low.


Next Steps

Financial Health

How is Repligen's financial position?


Financial Position Analysis

Short Term Liabilities: RGEN's short term assets ($651.4M) exceed its short term liabilities ($41.9M).

Long Term Liabilities: RGEN's short term assets ($651.4M) exceed its long term liabilities ($294.9M).


Debt to Equity History and Analysis

Debt Level: RGEN's debt to equity ratio (22%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if RGEN's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: RGEN's debt is well covered by operating cash flow (28.4%).

Interest Coverage: RGEN's interest payments on its debt are well covered by EBIT (9.3x coverage).


Balance Sheet


Next Steps

Dividend

What is Repligen's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate RGEN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate RGEN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if RGEN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if RGEN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of RGEN's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Tony Hunt (55yo)

5.08yrs

Tenure

US$4,424,560

Compensation

Mr. Anthony J. Hunt, also known as Tony, has been the Chief Executive Officer and President of Repligen Corporation since May 21, 2015. Mr. Hunt served as Secretary of Repligen Corporation. He served as Ch ...


CEO Compensation Analysis

Compensation vs Market: Tony's total compensation ($USD4.42M) is below average for companies of similar size in the US market ($USD7.27M).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Anthony Hunt
CEO, President5.08yrsUS$4.42m0.14% $9.2m
Jon Snodgres
CFO & Secretary5.92yrsUS$1.88m0.026% $1.7m
Ralf Kuriyel
Senior Vice President of Research & Development3.67yrsUS$1.61m0.022% $1.5m
Steve Curran
Vice President of Global Operationsno datano datano data
Sondra Newman
Global Head of Investor Relationsno datano datano data
Stephen Tingley
Vice President of Sales3.5yrsno datano data
Rachel Goodrich
Vice President of Marketing3.25yrsno datano data
Ken Elmer
Global Head of Human Resources3.5yrsno datano data
Anthony MacDonald
Senior Vice President of Ultrafiltration & Diafiltration16.42yrsno datano data
Gustav Silfversparre
Vice President of Operations - Repligen Sweden7.25yrsno datano data

4.4yrs

Average Tenure

56yo

Average Age

Experienced Management: RGEN's management team is considered experienced (4.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anthony Hunt
CEO, President5.08yrsUS$4.42m0.14% $9.2m
Glenn Muir
Independent Director4.67yrsUS$215.20k0.0085% $566.6k
Charles Cooney
Member of Scientific Advisory Board4.25yrsno datano data
Nicolas Barthelemy
Independent Director6yrsUS$190.20k0.0023% $154.3k
Thomas Ryan
Independent Director16.75yrsUS$190.20k0.0019% $127.0k
Karen Dawes
Independent Chairperson8.5yrsUS$331.28k0.23% $15.2m
Alfred Goldberg
Member of Scientific Advisory Board4.25yrsUS$16.25kno data
John Cox
Member of Scientific Advisory Board4.25yrsUS$185.20kno data
Konstantin Konstantinov
Member of Scientific Advisory Board4.25yrsno datano data
Steven Cramer
Member of Scientific Advisory Board4.25yrsno datano data

4.5yrs

Average Tenure

61yo

Average Age

Experienced Board: RGEN's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: RGEN insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9%.


Top Shareholders

Company Information

Repligen Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Repligen Corporation
  • Ticker: RGEN
  • Exchange: NasdaqGS
  • Founded: 1981
  • Industry: Life Sciences Tools and Services
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$6.651b
  • Shares outstanding: 52.31m
  • Website: https://www.repligen.com

Number of Employees


Location

  • Repligen Corporation
  • Building 1
  • Suite 100
  • Waltham
  • Massachusetts
  • 2453
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RGENNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 1986
RGNDB (Deutsche Boerse AG)YesCommon StockDEEURApr 1986

Biography

Repligen Corporation develops and commercializes bioprocessing technologies and systems that are used 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 kits, which are analytical test kits to quantitate the proteins and growth factors; chromatography resins under the CaptivA brand; and liquid chromatography products under the Spectra/Chrom brand. In addition, the company offers filtration products, such as XCell Alternating Tangential Flow systems that are filtration devices used in upstream perfusion 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 module-bag-tubing sets. Further, it provides process analytics products, such as slope spectroscopy systems under the SoloVPE and FlowVPE brands. The company sells its products to life sciences, biopharmaceutical, and diagnostics companies; laboratory researchers; and contract manufacturing organizations. It has a collaboration agreement with Navigo Proteins GmbH to develop multiple affinity ligands; and Sartorius Stedim Biotech to create novel perfusion-enabled bioreactors. Repligen Corporation was founded in 1981 and is headquartered in Waltham, Massachusetts. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 02:04
End of Day Share Price2020/06/03 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.