BUZZ-Repligen Corp up on raising FY profit forecast

Reuters
2024-11-12

** Shares of biotech co Repligen Corp 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;))

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