Repligen (RGEN)

NASDAQHealth CareMedical - Instruments & SuppliesSnapshot 2026-10-23

$176.93-1.00%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Repligen’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.6%

+10% or more+5%0%−5%−10% or less

2.64 → 2.65 EPS · FY ending Dec 31, 2027 · 5 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 24, 2026 to Oct 24, 2026: (new ÷ prior − 1). Contributor count changed from 11 to 5; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	225.48M
EPS	—	0.577
FY 2026 · Annual
Revenue	—	830.23M
EPS	$2.03–$2.09non-GAAP	2.06
Gross margin	53.7%–54.2%	—
Operating margin	15.7%–16%	—
Organic revenue growth	10.5%–13.5%	—
FY 2027 · Annual
Revenue	—	985.75M
EPS	—	2.652

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Increase adjusted EPS to $1.97-$2.05 in FY26	Adjusted EPS aims for $1.97-$2.05 in 2026.	Under Pressure	Adjusted EPS falls below $1.97 in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Diluted EPS was $0.24 in first half 2026, with management raising adjusted EPS guidance to $2.03-$2.09 for full year 2026. The trajectory shows progress but EPS in Q2 2026 was lower than Q1, indicating mixed delivery so far. Delivery assessment Oct 24, 2026
Maintain operating margin between 15.1% and 15.5% in FY26	A supporting condition in Repligen's published investment case. The stated target is 15.1%-15.5% operating margin.	Improving	Operating margin falls below 15.1% in FY26	Operating margin: 6.85% FY2026-Q2; GAAP. Published target: 15.1%-15.5% operating margin. Target period is not explicitly aligned with this observation. Source published Jul 29, 20266.846684 percent · calculatedSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 45911865-f718-4e8b-a9ba-90a4d7a7a9e5. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Adjusted operating margin improved from 15.4% in Q1 2026 to 16.7% in Q2 2026, within the guided range of 15.7%-16.0%. This indicates management is delivering on the operating margin target. Delivery assessment Oct 24, 2026
Achieve 9%-13% organic revenue growth in FY26	A primary condition in Repligen's published investment case. The stated target is 9%-13% YoY revenue growth.	Under Pressure	YoY revenue growth falls below 9% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 4 of last 4 quarters. Revenue grew from $738M in full year 2025 to $398M in first half 2026, with Q2 2026 revenue at $204M, a 12% year-over-year increase. Management has raised and reiterated FY26 organic revenue growth guidance to 10.5%-13.5%, indicating delivery on this priority. Delivery assessment Oct 24, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$2.65

$2.55 → $2.65 · observed estimates

FY2027 revenue$0.99B

$0.94B → $0.99B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$2.55	$944,059,120	20 / 19
2026-07-25	$2.55	$944,196,150	20 / 19
2026-07-26	$2.55	$944,196,150	20 / 19
2026-07-27	$2.55	$944,197,360	20 / 19
2026-07-28	$2.55	$944,197,360	20 / 19
2026-07-29	$2.58	$955,474,910	19 / 18
2026-07-30	$2.61	$964,735,636	10 / 14
2026-07-31	$2.62	$963,470,844	10 / 14
2026-08-01	$2.62	$963,470,844	10 / 14
2026-08-02	$2.64	$969,126,370	20 / 19
2026-08-03	$2.62	$963,470,844	11 / 14
2026-08-04	$2.62	$963,590,099	11 / 14
2026-08-05	$2.64	$969,239,350	20 / 19
2026-08-06	$2.62	$963,590,099	11 / 14
2026-08-08	$2.64	$969,231,530	20 / 19
2026-08-09	$2.62	$963,590,099	11 / 14
2026-08-10	$2.62	$963,590,099	11 / 14
2026-08-12	$2.62	$963,590,099	11 / 14
2026-08-13	$2.62	$963,590,099	11 / 14
2026-08-14	$2.62	$963,590,099	11 / 14
2026-08-15	$2.62	$963,590,099	11 / 14
2026-08-16	$2.62	$963,590,099	11 / 14
2026-08-17	$2.62	$963,590,099	11 / 14
2026-08-18	$2.62	$963,590,099	11 / 14
2026-08-19	$2.62	$963,590,099	11 / 14
2026-08-20	$2.62	$963,579,233	11 / 14
2026-08-21	$2.62	$963,579,233	11 / 14
2026-08-22	$2.62	$963,579,233	11 / 14
2026-08-23	$2.62	$963,579,233	11 / 14
2026-08-24	$2.62	$963,579,233	11 / 14
2026-08-25	$2.62	$963,579,233	11 / 14
2026-08-26	$2.62	$963,579,233	11 / 14
2026-08-27	$2.62	$963,579,233	11 / 14
2026-08-28	$2.62	$963,579,233	11 / 14
2026-08-29	$2.62	$963,579,233	11 / 14
2026-08-30	$2.62	$963,579,233	11 / 14
2026-08-31	$2.62	$963,579,233	11 / 14
2026-09-01	$2.62	$963,579,233	11 / 14
2026-09-02	$2.62	$962,928,106	11 / 14
2026-09-03	$2.62	$962,928,106	11 / 14
2026-09-04	$2.62	$962,928,106	11 / 14
2026-09-05	$2.62	$962,928,106	11 / 14
2026-09-06	$2.62	$962,928,106	11 / 14
2026-09-07	$2.62	$962,928,106	11 / 14
2026-09-08	$2.62	$962,928,106	11 / 14
2026-09-09	$2.62	$962,928,106	11 / 14
2026-09-10	$2.64	$969,335,155	11 / 14
2026-09-11	$2.64	$969,335,155	11 / 14
2026-09-12	$2.64	$969,335,155	11 / 14
2026-09-13	$2.64	$969,335,155	11 / 14
2026-09-14	$2.64	$969,335,155	11 / 14
2026-09-15	$2.64	$969,335,155	11 / 14
2026-09-16	$2.64	$969,335,155	11 / 14
2026-09-17	$2.64	$969,335,155	11 / 14
2026-09-18	$2.64	$969,335,155	11 / 14
2026-09-19	$2.64	$969,335,155	11 / 14
2026-09-20	$2.64	$969,335,155	11 / 14
2026-09-21	$2.64	$969,335,155	11 / 14
2026-09-22	$2.64	$969,335,155	11 / 14
2026-09-23	$2.64	$969,335,155	11 / 14
2026-09-24	$2.64	$969,335,155	11 / 14
2026-09-25	$2.64	$969,335,155	11 / 14
2026-09-26	$2.64	$969,360,200	11 / 14
2026-09-27	$2.64	$969,360,200	11 / 14
2026-09-28	$2.64	$969,360,200	11 / 14
2026-09-29	$2.64	$969,360,200	11 / 14
2026-09-30	$2.64	$969,360,200	11 / 14
2026-10-01	$2.63	$970,874,655	11 / 14
2026-10-02	$2.63	$970,874,655	11 / 14
2026-10-03	$2.63	$970,846,878	11 / 14
2026-10-04	$2.63	$970,846,878	11 / 14
2026-10-05	$2.63	$970,846,878	11 / 14
2026-10-06	$2.63	$970,846,878	11 / 14
2026-10-07	$2.63	$970,846,878	11 / 14
2026-10-08	$2.63	$970,846,878	11 / 14
2026-10-09	$2.63	$970,846,878	10 / 14
2026-10-10	$2.63	$970,846,878	10 / 14
2026-10-11	$2.63	$970,846,878	10 / 14
2026-10-12	$2.63	$970,846,878	10 / 14
2026-10-13	$2.63	$970,846,878	10 / 14
2026-10-14	$2.65	$978,274,655	10 / 14
2026-10-15	Unavailable	Unavailable	4 / 4
2026-10-16	Unavailable	Unavailable	4 / 4
2026-10-17	Unavailable	Unavailable	4 / 4
2026-10-18	Unavailable	Unavailable	4 / 4
2026-10-19	Unavailable	Unavailable	4 / 4
2026-10-20	$2.65	$985,755,282	5 / 5
2026-10-21	$2.65	$985,755,282	5 / 5
2026-10-22	$2.65	$985,755,282	5 / 5
2026-10-23	$2.65	$985,755,282	5 / 5
2026-10-24	$2.65	$985,753,782	5 / 5

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	18	4
2026-06-01	18	4
2026-07-01	19	4
2026-08-01	19	4
2026-09-01	19	4
2026-10-01	18	4

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 18 Buy / Strong Buy · 4 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades2 maintains

Recent actions · Sep 25–Oct 24 · 2 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

Canaccord GenuityOct 19

$180.00New observation · no comparable prior

BarclaysOct 7 · prior Apr 14

$145.00 → $225.00+55.2%

$0$123.75$247.50

1 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Increase adjusted EPS to $1.97-$2.05 in FY26Published status: Under Pressure
Maintain operating margin between 15.1% and 15.5% in FY26Operating margin: 6.85%
Achieve 9%-13% organic revenue growth in FY26Published status: Under Pressure

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.7%Typical daily move · historical

Downside history

-40.3%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Repligen outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

RGEN is a growth-focused healthcare business with recent strong financial performance, stable management, and a sector tailwind. Its long-term thesis is intact, but earnings quality remains a concern because the company is loss-making on the reported factor assessment, and the valuation is expensive.

What's priced into Repligen

RGEN trades at a 34% premium to peers, reflecting expectations of durable growth. The expectations gap is 0.31, but confidence in that estimate is low; the evidence labels the premium unjustified, though valuation is the main source of fragility rather than a combination of weak fundamentals and turbulence.

What the fundamentals likely do

Near term, revenue growth and operating margins are tracking management’s FY26 priorities: Q2 revenue rose 12% year over year, and the adjusted operating margin reached 16.7%. Adjusted EPS progress is mixed, and the company’s past deep miss makes guidance delivery worth watching, although the stated near-term miss risk is low.

What Repligen hinges on

Over the next few quarters, the thesis depends on management sustaining its raised FY26 growth guidance without a reversal that would damage credibility. A weakening jobs trend could add pressure to cyclical healthcare names, while continued strong results and guidance from sector peers would support the sector backdrop; the recent acquisition is noted, but its expected business impact is not detailed in the evidence.