Repligen Corp up on raising FY profit forecast

Repligen

12/11/2024 14:00

** Shares of biotech co Repligen Corp  RGEN.O  rise 6.09% to
$148 premarket
    ** Raises FY adjusted profit forecast to be in the range of
$1.50 to $1.58 per share from $1.42 to $1.49
    ** Expects FY total revenue to be in the range of $630 mln
to $639 mln from its previous estimate of $620 mln to $635 mln 
    ** Reports Q3 revenue of $155 mln, a 10% increase from a
year earlier
    ** Analysts were expecting revenue of $153.2 mln as per data
compiled by LSEG 
    ** "We are encouraged to see strengthening CDMO and
equipment sales in the quarter, with each delivering
year-over-year and sequential growth"- RGEN
    ** "Net-net, a solid quarter from RGEN and positive forward
commentary"- brokerage Stephens
    ** Up to last close, stock down 22.4% YTD

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))