Wolfe Research assumed coverage of Repligen with an Outperform rating and $145 price target. The company is a bioprocessing pure play with highly differentiated products in sub-segments like upstream filtration and chromatography, among others, which levers the stock to the above-average growth in biologic drug volumes in development pipelines and commercial production, the analyst tells investors in a research note. Repligen's balance sheet is also "comfy" with no net debt, and given its serviceable/addressable market at 6% and 4%, there is "plenty of share to fish for", the firm added.
