RBC upgrades Repligen to Outperform as stock reaches ‘attractive entry point’

RBC Capital analyst Conor McNamara upgraded Repligen to Outperform from Sector Perform with an unchanged price target of $157. Following a 45% decline from 52-week highs, the firm sees the current share price as “an attractive entry point,” the analyst tells investors. Repligen has “best-in-class innovation” in bioproduction and has consistently grown above the bioproduction market, notes the analyst, who also illustrates hypothetical upside in a takeout scenario based on historical transaction multiples.