UPDATE: UBS Starts Repligen (RGEN) at Buy

UBS analyst Elizabeth Garcia initiates coverage on Repligen (NASDAQ: RGEN) with a Buy rating and a price target of $213.00.

The analyst comments "Initiating coverage of Repligen at a Buy rating and a PT of $213. The company capitalized on the demand-supply imbalance over the past two years in biologics to propel adoption of its products and broaden its customer base in a traditionally slow-moving field of product adoption. With Repligen capitalizing on this and making strides into cell & gene therapy applications, the company has levered toward >25% growth. Diligence on the space points to a strong market backdrop to bolster continued outperformance from RGEN. We forecast a top-line 2%-5% ahead of consensus and a +15% 2021-26E EBITDA CAGR. Following expectations for demand to decline in covid-19 vaccines, valuation has contracted to ~12x EV/sales, from highs of >20x. We look forward to updates at the company's September analyst day."

For an analyst ratings summary and ratings history on Repligen click here. For more ratings news on Repligen click here.

Shares of Repligen closed at $168.07 yesterday.

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