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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on RGEN:
- Repligen price target lowered to $207 from $220 at Craig-Hallum
- Repligen price target lowered to $210 from $230 at Benchmark
- Repligen price target lowered to $210 from $225 at Stifel
- Repligen Reports First Quarter 2023 Financial Results and Updates Full Year 2023 Financial Guidance
- Repligen sees lowers 2023 adjusted EPS $2.35-$2.42 from $2.61-$2.69