Truist cuts Repligen target to $940, maintains Buy rating

Published 29/04/2025, 21:50
Truist cuts Repligen target to $940, maintains Buy rating

On Tuesday, Truist Securities adjusted its outlook on Repligen Corporation (NASDAQ:RGEN), a bioprocessing company. Analysts at Truist lowered the price target to $940 from $975, while reaffirming a Buy rating on the company’s shares. According to InvestingPro data, analyst consensus remains bullish with targets ranging from $140 to $225, suggesting potential upside. The revision reflects a tempered expectation for the company’s revenue from its Eylea product, amidst persistent competitive pressures and pricing challenges.

Truist’s analysts noted that while investor attention has been focused on the performance of Eylea, Repligen’s broader portfolio continues to show growth potential. The company’s other products, Dupixent (Dupi) and Libtayo, are expected to contribute to both top and bottom-line growth in the near and longer-term. InvestingPro data shows the company maintains strong financial health with a current ratio of 8.41 and operates with moderate debt levels. The revised peak sales estimate for Eylea in 2035 now stands at $3.2 billion, down from the previous forecast of $3.5 billion.

Despite the lowered revenue forecast for Eylea, Truist maintains a positive long-term outlook on Repligen. Analysts highlighted the company’s robust and maturing pipeline, which includes multiple therapeutic areas with promising profiles. They anticipate that upcoming product launches and label expansions will serve as near-term value inflection points for the company.

Moreover, Truist believes that the market has yet to fully recognize the potential catalysts that could drive Repligen’s growth. The firm’s analysts suggest that these factors, combined with the company’s diversified portfolio, present an attractive investment opportunity that extends beyond the Eylea franchise.

In conclusion, while adjusting for the current market dynamics affecting Eylea, Truist Securities remains confident in Repligen’s capacity to generate growth through its comprehensive product lineup and forthcoming developments. The firm’s reaffirmed Buy rating reflects this optimism, even with the revised price target of $940.

In other recent news, Repligen Corporation reported impressive first-quarter 2025 financial results, surpassing analyst expectations. The company achieved a revenue of $169 million, exceeding the anticipated $164 million, and posted an adjusted earnings per share (EPS) of $0.39, surpassing the forecasted $0.34. Following its acquisition of 908 Devices, Repligen raised its revenue outlook for 2025, projecting between $695 million and $720 million, an increase from the previous forecast of $685 million to $710 million. In terms of analyst actions, JPMorgan revised Repligen’s stock price target to $190, down from $200, while maintaining an Overweight rating, reflecting confidence in the company’s growth trajectory.

Jefferies also adjusted Repligen’s price target, reducing it to $914 from $936, but maintained a Buy rating, highlighting the company’s potential despite challenges faced by its partner, Regeneron (NASDAQ:REGN) Pharmaceuticals. The company’s strong performance was driven by significant growth in chromatography revenue and consumables, with orders for consumables rising over 20% year-over-year. Repligen’s management noted minimal impact from tariffs, except those involving China, and expressed optimism about continued momentum in 2025. Repligen’s robust cash position of $697 million further underscores its financial health and ability to navigate market uncertainties.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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