Repligen (RGEN) is expected to benefit from diverse growth drivers in a strengthening bioprocessing market, RBC Capital Markets said in a Thursday note.

"Bioprocessing demand trends are the most robust in Tools, and Repligen is a pure play," the note said.

The report also pointed to growth prospects at its commercial products, biosimilars, product replacement cycles, and a strategy

reboot in China.

The note said the growth drivers should enable the firm to return to mid-teens organic sales growth, as RBC resumes coverage of Repligen with an outperform rating and a $160 price target.

"The growth pressures associated with a specific gene therapy customer should lap next year, while several tailwinds...should ramp," the report said.

Price: 105.97, Change: +2.59, Percent Change: +2.50