RGEN - Repligen shares rise after Q3 earnings beat FY forecast raise

Repligen shares rise (RGEN +6.2%) after the company posted third-quarter profit and revenue that beat Wall Street estimates and raised its FY forecast. The company raised its profit per share forecast for the year to a range of $2.86-$2.91, up from a prior guidance of $2.71-$2.78. Total revenue for 2021 is expected to be in the range of $655M-$665M, an increase from the company's previous guidance of $625-$645M. Revenue from COVID-related programs is expected to be in the range of $175-$180M, an update to the previous guidance of $170-$180M. Quarterly revenue increased nearly 90% to $178.22M, beating analysts' average estimate by $14.25M. Adjusted gross margin increased to 58.3%. COVID programs accounted for about 27% of revenue during the third quarter, and gene therapy customer revenue grew more than 50% year-over-year. The company posted third-quarter adjusted profit of $0.78 per share, beating analysts' estimate by 30 cents.

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Repligen shares rise after Q3 earnings beat, FY forecast raise