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Wednesday, June 29, 2022

How Repligen Corp. (RGEN) Has Seen Its Value Double Over The Past Year?

As the biotechnology company, Repligen Corp. (NASDAQ: RGEN) has seen its value double over the past year, driven by strong demand for biologics development tools. The stock is currently trading at $212.25, or 8.73% above its SMA20 and 11.10% above its SMA50, respectively. However, with a daily volume of 0.62 million shares and a change of 2.06%, the stock is currently 41.90% off its SMA200. RGEN’s year-over-year gain was 113.10% compared with a six-month gain of 60.87%. Based on fifty-day simple moving averages (SMA50), the firm trades at $192.09, and two-year simple moving averages (SMA200) are $164.47.

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The products Repligen produces are used by biotech companies in the production of medicine. Some of the most complicated products being developed by the company include monoclonal antibodies for gene therapy. Additionally, the company designs and manufactures filtration devices, ultra-precise fluid systems, and other biotech devices that facilitate biological product manufacturing.

Even before the COVID-19 pandemic, Repligen Corp (RGEN) developments were in high demand; however, during the outbreak, the company increased sales of disposable devices and materials that increase usability while reducing costs for its customers. In the past several years, the company has created products to simplify setting up complex workflows.

The biotechnological industry is attempting to introduce disposable equipment in drug development. As of now, stainless steel has been used in 85% of drug manufacturing processes. However, expert opinion indicates that disposable components may make up 95% of drug development devices in the future.

Before COVID-19, Repligen estimated its target market at about $10 billion, meaning that it’s anticipated 2019 revenues of $270 million represent less than 3% of potential sales. There are enormous opportunities for growth. Repligen’s position as a leading beneficiary of this market has been further reinforced by the pandemic, which has accelerated biologicals trends.

It is anticipated that Repligen Corp (RGEN) will submit a quarterly report shortly and to see revenue growth above 30%, something that has been consistent for several years.

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