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RGEN - Repligen: Strong Filtration Growth Offset By Other Challenges
Repligen Corporation
2024-07-13 06:56:10 ET
Summary
Repligen's Q1 revenue declined by 20% organically, driven by Covid-related business decline and reduced demand in China and protein business.
Strong growth and pipelines in the core filtration business, with non-Covid filtration revenue surging by more than 15% in Q1.
FY24 outlook includes -1% to +4% base revenue growth, with expectations of industry recovery in the second half of 2024 and a one-year price target of $150 per share.