Repligen initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Repligen (RGEN) with a Buy rating and $200 price target Repligen is well positioned for “industry-leading” growth and margin expansion as it is over-indexed exposure to new modalities and differentiated product offerings, the analyst tells investors in a research note. The firm says the company’s limited exposure to National Institutes of Health funding and China should “shield” it from the near-term sector headwinds facing peers. Repligen’s bioprocessing solutions drive efficiency and scalability to replace legacy methods and outperform peers, contends TD.