RGEN - Repligen surges 11% as it raises fiscal 2022 financial guidance
- A boost in fiscal 2022 revenue and earnings guidance from previous guidance has led Repligen ( NASDAQ: RGEN ) to rise 11% in Tuesday morning trading.
- The biological drugs components company also beat on the top and bottom lines in its Q2 2022 results.
- Non-GAAP net income in the quarter of $51.4M was a 15% increase compared to Q2 2021 (Non-GAAP EPS of $1.82 vs. $1.47).
- Revenue of ~$207.6M was a ~27% year-over-year increase. It was also a quarterly record.
- Repligen ( RGEN ) ended the quarter with $596.5M in cash and cash equivalents compared to $603.8M at Dec. 31, 2021.
- Seeking Alpha contributor Hummingbird Insights wrote recently that the stock appears fairly priced .
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Repligen surges 11% as it raises fiscal 2022 financial guidance