RGEN - Repligen shares rise on strong first-quarter results FY forecast raise

Repligen (RGEN) shares shares rise nearly 5% during premarket trading after the company posted strong first-quarter results, driven by COVID-19 related demand and acquisition revenue, and raised its full-year forecast. The company's net revenue during the period increased 88% to $142.8M, beating analysts' estimate by $25.78M.Gross margin for the first quarter was 58.2%, compared to 58.0% last year.2021 Guidance: total revenue is expected to be in the range of $565M-$590M, an increase from previous guidance of $500M-$525M; revenue from COVID-related programs is expected to be in the range of $140M-$160M, an increase from previous guidance of $90M-$100M; adjusted EPS is expected to be in the range of $2.21-$2.28, an increase from previous guidance of $1.86-$1.94.Net income rose to $29.5M, or $0.52 per share, compared to $9.8M, or $0.18 in the prior-year period. The company posted adjusted profit of $0.68 per share.Cash and cash equivalents at March 31, 2021 were $711.3M, compared to $717.3M at December 31, 2020.Previously

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Repligen shares rise on strong first-quarter results, FY forecast raise