Why Shares of Repligen Surged This Week
Shares in bioprocessing equipment company Repligen (NASDAQ: RGEN) soared by more than 14% this week by late Thursday. The move comes after an excellent set of second-quarter earnings released on Tuesday. The results were ahead of expectations, and management increased its full-year revenue and earnings guidance.
Having started the year forecasting full-year organic growth of 18% to 22%, management lowered expectations at the end of April to a range of 14% to 18% and raised them again on Tuesday to 19% to 22%.
The reason for the variation in the guidance comes down to a combination of uncertainty regarding spending on COVID-19-related vaccines and therapies, and difficulty in reading the strength of the (non-COVID-related) monoclonal antibody market.
Source Fool.com
