Repligen RGEN announced a definitive agreement to acquire Metenova, a privately-held Swedish company, specializing in the manufacturing of magnetic mixers for pharmaceutical and biotechnology applications.
RGEN will acquire Metenova through a combination of cash and equity. This agreement will further strengthen Repligen's Fluid Management portfolio by adding Metenova’s market-leading magnetic mixing technology, designed for both upstream and downstream bioprocess applications.
Metenova is anticipated to generate revenues in the range of $24-$25 million in fiscal 2023, with significant growth projected in the years ahead.
Shares of Repligen have lost 6.2% year to date compared with the industry’s 16.2% decline.
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Metenova is one of the leading players in the biopharmaceutical equipment sector and has emerged as a powerhouse in magnetic mixing and drive train technologies. These technologies have shown potential in the production process of global biopharmaceutical companies and contract development and manufacturing organizations.
Notably, Metenova is expected to contribute approximately $5 million in revenues to Repligen in the fourth quarter of 2023. Looking ahead, it is estimated to contribute $25-$27 million revenues in 2024, with steady growth of 20-25% in the following years.
Metenova recently entered into the single-use mixing market with the introduction of the MixOne platform. This expansion builds on its existing stainless steel product line, providing a versatile range of options for the biopharmaceutical industry.
Repligen has consistently demonstrated its ability to make strategic acquisitions that enhance its product portfolio. The addition of Metenova aligns perfectly with its recent series of fluid management deals, including partnerships with FlexBiosys, ARTeSYN and Bioflex.
Repligen Corporation Price and Consensus
Repligen Corporation price-consensus-chart | Repligen Corporation Quote
Zacks Rank & Stocks to Consider
Repligen currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the same industry are Anika Therapeutics ANIK, Annovis Bio ANVS and Corcept Therapeutics CORT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate forAnika Therapeutics has narrowed from a loss of $1.41 per share to a loss of $1.24 for 2023. The bottom-line estimate has widened from a loss of 79 cents to a loss of 82 cents for 2024 during the same time frame. Shares of the company have lost 37.5% year to date.
ANIK’s earnings beat estimates in one of the trailing four quarters and missed the mark in the remaining three, delivering an average negative surprise of 32.12%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to a loss of $2.77 for 2024 during the same time frame. Shares of the company have lost 28.8% year to date.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 59.1% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
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