Want to see RGEN full AI Analyst Report?
Top Page
Repligen
(NASDAQ:RGEN)
Select Model
Select Model
Rating:65Neutral
Price Target:
$198.00
▲(9.82% Upside)
Action:Downgraded
Date:10/08/26
The score is driven by improving fundamentals (profitability recovery, strong and growing free cash flow, manageable leverage) and a strongly upbeat outlook with raised guidance and strategic expansion via the BioLife acquisition. These positives are tempered by weak near-term technicals and a very demanding valuation (P/E ~226), which increases downside risk if growth or margin expansion disappoints.
Positive Factors
Recurring organic growth
Broad recurring revenue growth indicates durable customer demand across Repligen’s bioprocessing portfolio rather than reliance on a single product or event. Continued adoption supports repeat purchasing, improves visibility, and provides a foundation for sustained expansion as biologics manufacturing grows.
Negative Factors
Profitability below prior peaks
Although profitability has recovered, margins and returns remain materially below earlier peak levels, showing that earnings quality has not fully normalized. Lower returns on the existing asset and equity base could constrain internal compounding and leave results more sensitive to mix, volume, and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring organic growth
Broad recurring revenue growth indicates durable customer demand across Repligen’s bioprocessing portfolio rather than reliance on a single product or event. Continued adoption supports repeat purchasing, improves visibility, and provides a foundation for sustained expansion as biologics manufacturing grows.
Read all positive factors
Repligen (RGEN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.23B
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)239.1
Beta (1Y)1.38
Revenue Growth16.49%
EPS GrowthN/A
CountryUS
Employees2,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.74
Shares Outstanding63,490,364
10 Day Avg. Volume1,052,144
30 Day Avg. Volume1,220,530
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)4.38
Price to Sales (P/S)12.48
P/FCF Ratio98.13
Enterprise Value/Market Cap0.68
Enterprise Value/Revenue9.69
Enterprise Value/Gross Profit18.98
Enterprise Value/Ebitda43.53
Forecast
1Y Price Target
$202.50Price Target Upside12.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)2.06
Revenue Forecast (FY)$830.23M
Repligen Business Overview & Revenue Model
Company Description
Repligen Corporation specializes in the creation and distribution of advanced bioprocessing technologies and integrated systems. These solutions are vital for various stages of biological drug production, serving clients across North America, Euro...
How the Company Makes Money
Repligen makes money primarily by selling bioprocessing products to biopharmaceutical and life sciences customers that manufacture biologic drugs. Its revenue model is largely product-based and is typically driven by: (1) recurring sales of consum...
Repligen Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Positive
The call was strongly positive. Repligen reported 13% organic second-quarter growth, substantial margin expansion, strong performance in Proteins, Analytics, APAC, and emerging biotech, and raised its full-year revenue and EPS guidance. The company also highlighted improved order momentum, a growing 2027 capital equipment backlog, and the financially accretive BioLife acquisition. These positives outweighed the disclosed challenges in Filtration, EMEA, capital equipment revenue, tariffs, and expected third-quarter margin and expense dynamics.Positive Updates
Strong Second-Quarter Revenue and Organic Growth
Repligen delivered $204 million of second-quarter revenue, representing 12% reported growth and 13% organic growth. The company said growth was driven by healthy recurring revenue across its broad portfolio.
Negative Updates
Filtration Revenue Growth Was Limited by Multiple Headwinds
Filtration revenue grew only slightly on a reported basis in the quarter. Consumable demand, including fluid management and flat-sheet cassettes, was offset by the Polymem sale, a previously disclosed gene therapy headwind, muted ATF and system demand, one customer's inventory management, and another customer's delayed site implementation. Management expects some of these impacts to continue in the third quarter and begin normalizing in the fourth quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Second-Quarter Revenue and Organic Growth
Repligen delivered $204 million of second-quarter revenue, representing 12% reported growth and 13% organic growth. The company said growth was driven by healthy recurring revenue across its broad portfolio.
Read all positive updates
Company Guidance
For full-year 2026, Repligen is guiding to $813 million-$834 million of revenue, or $824 million at the midpoint, representing 10%-13% reported growth and 10.5%-13.5% organic growth, with a couple million dollars of foreign currency tailwind and approximately one point of headwind from the sale of Polymem operations; franchise guidance assumes roughly mid-single-digit growth in filtration, greater than 20% growth in chromatography, protein growth of mid-teens, and +25% growth in analytics. The company continues to expect 110-160 basis points of gross margin expansion, raised adjusted income from operations guidance of $128 million-$134 million, adjusted operating margin of 15.7%-16%, and 190-220 basis points of operating margin expansion, plus $19 million of adjusted other income, a tax rate of approximately 22%, and adjusted fully diluted earnings per share of $2.03-$2.09, up $0.32-$0.38 versus 2025 and up 20% at the midpoint, including a $0.05 increase from prior guidance; Q3 revenue dollars are expected to increase slightly sequentially, adjusted gross margins to decline sequentially and year-over-year, Q3 operating margin to be fairly consistent with the third quarter of the prior year, and CapEx spend to continue being approximately 3%-4% of 2026 revenue.Repligen Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 785.10M | 738.26M | 634.44M | 632.36M | 801.54M | 670.53M |
| Gross Profit | 400.80M | 347.62M | 274.64M | 278.44M | 455.71M | 391.25M |
| EBITDA | 174.78M | 182.51M | 80.26M | 145.32M | 277.31M | 203.27M |
| Net Income | 41.54M | 48.89M | -25.51M | 35.60M | 185.96M | 128.29M |
Balance Sheet | ||||||
| Total Assets | 2.95B | 2.95B | 2.83B | 2.83B | 2.53B | 2.36B |
| Cash, Cash Equivalents and Short-Term Investments | 810.45M | 767.63M | 757.36M | 751.32M | 623.76M | 603.81M |
| Total Debt | 690.94M | 689.95M | 686.25M | 711.80M | 422.96M | 366.05M |
| Total Liabilities | 838.15M | 843.57M | 856.95M | 866.34M | 620.90M | 608.29M |
| Stockholders Equity | 2.11B | 2.11B | 1.97B | 1.96B | 1.91B | 1.75B |
Cash Flow | ||||||
| Free Cash Flow | 110.78M | 93.90M | 142.49M | 74.93M | 38.74M | 51.93M |
| Operating Cash Flow | 134.86M | 117.42M | 175.39M | 113.92M | 172.08M | 119.02M |
| Investing Cash Flow | -222.60M | -298.47M | -86.38M | -123.28M | -233.24M | -221.17M |
| Financing Cash Flow | -11.79M | -15.21M | -82.90M | 248.96M | -13.34M | 961.00K |
Repligen Technical Analysis
Neutral
180.30
Price Trends
177.10
Negative
159.19
Positive
144.39
Positive
Market Momentum
0.40
Positive
49.54
Neutral
57.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RGEN, the sentiment is Neutral. The current price of 180.3 is above the 20-day moving average (MA) of 179.29, above the 50-day MA of 177.10, and above the 200-day MA of 144.39, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 49.54 is Neutral, neither overbought nor oversold. The STOCH value of 57.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RGEN.
Repligen Risk Analysis
Repligen disclosed 19 risk factors in its most recent earnings report. Repligen reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We may be unable to complete the pending strategic acquisition of BioLife in a timely manner or at all, and even if we are able to complete the acquisition, we may be unable to successfully integrate BioLife's business, any of which could adversely affect our business and financial condition. Q2, 2026
2.
Even if we are able to complete the acquisition, we may be unable to successfully and efficiently integrate BioLife's business into the Repligen enterprise following the closing. Q2, 2026
3.
Our assumptions around the size and trajectory of the cell therapy market and BioLife's market position may prove to be incorrect, which, along with other risks and uncertainties related to the BioLife transaction, could materially and adversely affect our business and financial results. Q2, 2026
Repligen Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $27.60B | 49.83 | 18.51% | 0.23% | 12.42% | 17.07% | |
68 Neutral | $5.32B | 36.24 | 8.94% | 0.32% | 14.73% | 7.43% | |
66 Neutral | $14.54B | 10.39 | 28.96% | ― | -1.18% | 277.21% | |
65 Neutral | $11.23B | 239.09 | 1.98% | ― | 16.49% | ― | |
64 Neutral | $11.69B | -20.61 | -10.34% | ― | -1.57% | -183.83% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
RGEN
Repligen
176.93
15.83
9.83%
WST
West Pharmaceutical Services
392.15
105.82
36.96%
AVTR
Avantor
17.29
2.18
14.43%
STVN
Stevanato Group
19.49
-6.40
-24.71%
SOLV
Solventum Corporation
85.41
13.43
18.66%
Repligen Corporate Events
Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsRegulatory Filings and Compliance
Repligen Completes BioLife Acquisition to Expand Cell Therapies
Positive
Oct 6, 2026
Repligen has completed its acquisition of BioLife Solutions, a leading developer and supplier of cell processing tools and biopreservation media for the cell and gene therapy market, in a transaction that closed on October 6, 2026. The deal broade...
Executive/Board Changes
Repligen announces long-serving director Karen Dawes’ retirement
Neutral
Sep 15, 2026
On September 10, 2026, Repligen Corporation announced that Karen A. Dawes will retire from its Board of Directors on September 30, 2026, after more than two decades of service. Her tenure spanned a period of significant transformation for the comp...
M&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Repligen clears antitrust hurdle in BioLife Solutions acquisition
Positive
Sep 8, 2026
On July 21, 2026, Repligen entered into a merger agreement to acquire BioLife Solutions, Inc., with BioLife stockholders to receive $11.25 in cash and 0.1442 shares of Repligen common stock for each share of BioLife common stock. The transaction i...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Repligen to Acquire BioLife, Expanding Cell Therapy Reach
Positive
Jul 22, 2026
On July 21, 2026, Repligen agreed to acquire BioLife Solutions in a cash-and-stock merger valuing BioLife at about $1.5 billion, or $31.00 per share, with directors of both companies unanimously approving the deal. The transaction will proceed via...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.