Repligen price target raised to $200 from $180 at Stephens

Stephens analyst Jacob Johnson raised the firm’s price target on Repligen to $200 from $180 and keeps an Overweight rating on the shares. The company’s Q2 results included a revenue miss and a cut in its FY23 expectations, which was largely due to pharma spending, the analyst tells investors. Further, the firm believes the company took a conservative approach to its guidance and expects estimates should be very achievable. While there is not yet a concrete view around order trends for FY24, the firm sees opportunities like CGT end-market, biologics pipeline, and RGEN‘s systems, among others driving long-term growth.