RBC Capital lowered the firm’s price target on Repligen to $157 from $170 and keeps a Sector Perform rating on the shares. The company’s Q1 earnings topped expectations but the management also lowered organic revenue growth guidance by 800bps amid unpredictable order patterns, slower China orders, and more unknowns around customer inventory levels, the analyst tells investors in a research note. RBC adds that it remains cautious on the near term predictability of the bioproduction space.
Published first on TheFly
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